Chicago, March 8 – Sculptor Europe Loan Management Ltd. is refinancing €376.9 million of notes from the Sculptor European CLO I DAC collateralized loan obligation transaction, according to multiple releases.
The maturity date on the refinancing notes is being extended to April 18, 2034 from Jan. 18, 2030.
Included in the portfolio are €2 million of class X senior secured floating-rate notes at Euribor plus 50 basis points, €246 million of class A-R senior secured floating-rate notes at Euribor plus 80 bps and €38 million of class B-1-R senior secured floating-rate notes at Euribor plus 170 bps.
Also included lower in the portfolio are €28 million of class C-R senior secured deferrable floating-rate notes at Euribor plus 250 bps, €25.6 million of class D-R senior secured deferrable floating-rate notes at Euribor plus 360 bps, €19.6 million of class E-R senior secured deferrable floating-rate notes at Euribor plus 675 bps, €14 million of class F-R senior secured deferrable floating-rate notes at Euribor plus 925 bps.
Proceeds from the refinancing will be used to redeem the class A, class B, class C, class D, class E and class F notes at par.
An original €42 million of subordinated notes will remain outstanding. The CLO will also include, however, €3.7 million of new subordinated notes.
The CLO is collateralized by senior secured loans or senior secured bonds, for the most part.
Sculptor Europe Loan Management will continue to manage the collateral for the remainder of the reinvestment period.
The London-based firm is part of Sculptor Capital Management, Inc. The original issuer of the notes is OZLME BV.
| Issuer: | Sculptor European CLO I DAC
|
| Amount: | €376.9 million
|
| Maturity: | April 18, 2034
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Manager: | Sculptor Europe Loan Management Ltd.
|
| Announcement date: | March 8
|
| Settlement date: | April 9
|
|
|
| Class X notes
|
| Amount: | €2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 50 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-R notes
|
| Amount: | €246 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 80 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-1-R notes
|
| Amount: | €38 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 170 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class C-R notes
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| Amount: | €28 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 250 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D-R notes
|
| Amount: | €25.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 360 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class E-R notes
|
| Amount: | €19.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 675 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Class F-R notes
|
| Amount: | €14 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 925 bps
|
| Rating: | Moody's: B3
|
|
|
| Subordinated notes
|
| Amount: | $3.7 million
|
| Securities: | Subordinated notes
|
|
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