Chicago, Sept. 7 – Cairn Loan Investments II LLP priced €404.1 million of notes in a collateralized loan obligation being issued by Cairn CLO XVII DAC, according to a presale report.
The notes will mature on Oct. 18, 2036.
The CLO consists of €248 million of class A floating-rate notes at Euribor plus 180 basis points, €24.6 million of class B-1 floating-rate notes at Euribor plus 275 bps, €15 million of class B-2 6.87% fixed-rate notes, €23.1 million of class C floating-rate notes at Euribor plus 360 bps, €26.5 million of class D floating-rate notes at Euribor plus 530 bps, €17.2 million of class E floating-rate notes at Euribor plus 746 bps, €14.6 million of class F floating-rate notes at Euribor plus 964 bps and €35.1 million of subordinated notes.
Cairn Loan Investments II LLP will manage the collateral through the end of the 4.6-year reinvestment period.
Collateral for the notes consists of senior secured loans.
The CLO manager is based in London.
Issuer: | Cairn CLO XVII DAC
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Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
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Amount: | €404.1 million
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Maturity: | Oct. 18, 2036
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Structure: | Cash flow CLO
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Manager: | Cairn Loan Investments II LLP
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Pricing date: | Aug. 31
|
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Class A notes
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Amount: | €248 million
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Securities: | Floating-rate notes
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Coupon: | Euribor plus 180 bps
|
Rating: | Fitch: AAA
|
|
Class B-1 notes
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Amount: | €24.6 million
|
Securities: | Floating-rate notes
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Coupon: | Euribor plus 275 bps
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Rating: | Fitch: AA
|
|
Class B-2 notes
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Amount: | €15 million
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Securities: | Fixed-rate notes
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Coupon: | 6.87%
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Rating: | Fitch: AA
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|
Class C notes
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Amount: | €23.1 million
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Securities: | Floating-rate notes
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Coupon: | Euribor plus 360 bps
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Rating: | Fitch: A
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Class D notes
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Amount: | €26.5 million
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Securities: | Floating-rate notes
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Coupon: | Euribor plus 530 bps
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Rating: | Fitch: BBB-
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Class E notes
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Amount: | €17.2 million
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Securities: | Floating-rate notes
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Coupon: | Euribor plus 746 bps
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Rating: | Fitch: BB-
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Class F notes
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Amount: | €14.6 million
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Securities: | Floating-rate notes
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Coupon: | Euribor plus 964 bps
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Rating: | Fitch: B-
|
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Subordinated notes
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Amount: | €35.1 million
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Securities: | Subordinated notes
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