Chicago, March 10 – Partners Group (UK) Management Ltd. sold €330.77 million in a collateralized loan obligation issued by Penta CLO 14 DAC, according to an offering document.
The notes will mature on April 15, 2036.
The CLO consists of €147.25 million of class A senior secured floating-rate notes at Euribor plus 185 basis points, €49.1 million of class A senior secured floating-rate loans at Euribor plus 185 bps, €34.65 million of class B senior secured floating-rate notes at Euribor plus 275 bps, €20.62 million of class C senior secured deferrable floating-rate notes at Euribor plus 385 bps, €21.45 million of class D senior secured deferrable floating-rate notes at Euribor plus 625 bps, €16.5 million of class E senior secured deferrable floating-rate notes at Euribor plus 702 bps, €8.3 million of class F senior secured deferrable floating-rate notes at Euribor plus 1,038 bps and €32.9 million of subordinated notes.
Partners Group (UK) Management Ltd. will manage the collateral through the end of the reinvestment period on Oct. 15, 2027.
Collateral for the notes consists of senior obligations, mezzanine obligations and high-yield bonds.
The notes can be called starting Sept. 15, 2024.
BNP Paribas was the placement agent.
The private markets investment manager is based in London.
| Issuer: | Penta CLO 14 DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €330.77 million
|
| Maturity: | April 15, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | BNP Paribas
|
| Manager: | Partners Group (UK) Management Ltd.
|
| Call feature: | Sept. 15, 2024
|
| Settlement date: | March 6
|
|
|
| Class A notes
|
| Amount: | €147.25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 185 bps
|
| Price: | Par
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class A loans
|
| Amount: | €49.1 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | Euribor plus 185 bps
|
| Price: | Par
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | €34.65 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 275 bps
|
| Price: | Par
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €20.62 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 385 bps
|
| Price: | Par
|
| Rating: | S&P: A
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €21.45 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 625 bps
|
| Price: | Par
|
| Rating: | S&P: BBB-
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €16.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 702 bps
|
| Price: | 91
|
| Rating: | S&P: BB-
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €8.3 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 1,038 bps
|
| Price: | 85
|
| Rating: | S&P: B-
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €32.9 million
|
| Securities: | Subordinated notes
|
| Price: | Par
|
|
|
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