Chicago, March 10 – Spire Management Ltd. refinanced €411.5 million of notes from the Aurium CLO V transaction, which has been extended to April 17, 2034, according to a report.
The refinancing involves the €172.8 million of class A senior secured floating-rate notes at Euribor plus 79 basis points, €100 million of class A senior secured floating-rate notes at Euribor plus 79 bps, €25.8 million of class B-1 senior secured floating-rate notes at Euribor plus 130 bps and €12.8 million of class B-2 1.75% senior secured fixed-rate notes.
Also part of the refinancing are €36.3 million of class C senior secured deferrable floating-rate notes at Euribor plus 235 bps, €27.5 million of class D senior secured deferrable floating-rate notes at Euribor plus 350 bps, €22 million of class E senior secured deferrable floating-rate notes at Euribor plus 616 bps, €14.3 million of class F senior secured deferrable floating-rate notes at Euribor plus 936 bps.
An original €40.75 million of subordinated notes will remain outstanding.
Proceeds, according to the collateral manager, will be used to redeem the original notes.
Spire Management will continue to manage the CLO through the 4.25-year reinvestment period.
Most of the collateral. Must be senior secured obligations. It is expected to mainly consist of corporate loans to borrowers in Western Europe.
Spire is a fund management firm based in London.
| Issuer: | Aurium CLO V
|
| Amount: | €411.5 million
|
| Maturity: | April 17, 2034
|
| Securities: | Floating-rate, fixed-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Manager: | Spire Management Ltd.
|
| Announcement date: | March 10
|
|
|
| Class A notes
|
| Amount: | €172.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 79 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A notes
|
| Amount: | €100 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 79 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-1 notes
|
| Amount: | €25.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 130 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class B-2 notes
|
| Amount: | €12.8 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 1.75%
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | €36.3 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 235 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
|
| Amount: | €27.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 350 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
|
| Amount: | €22 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 616 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Class F notes
|
| Amount: | €14.3 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 936 bps
|
| Rating: | Moody's: B3
|
|
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