Cairn planning euro-denominated CLO XII for €329.1 million

Chicago, July 21 – Cairn CLO XII DAC is planning a new €329.1 million collateralized loan obligation due April 15, 2033, according to a market source.

The portfolio is actively managed by Cairn Loan Investments II LLP.

The transaction will include €188 million class A floating-rate notes (//AAA), €38.5 million class B floating-rate notes (//AA) and €24.1 million class C floating-rate notes (//A).

The CLO will also have €19.6 million class D floating-rate notes (//BBB-), €16 million class E floating-rate notes (//BB-) and €7.75 million class F floating-rate notes (//B-).

There will also be €35.25 million of subordinated notes issued in two tranches, an M-1 class and an M-2 class.

There is a three-year investment period.

Closing is expected for Aug. 26.

Cairn Loan Investments is a London-based credit asset management firm.

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