Chicago, April 23 – Ares Management Ltd. priced €403.4 of notes million in a collateralized loan obligation being issued by Ares European CLO XIX DAC, according to a presale report.
The notes will mature on July 15, 2037.
The CLO consists of €244 million of class A floating-rate notes at Euribor plus 147 basis points, €50 million of class B floating-rate notes at Euribor plus 220 bps, €22 million of class C floating-rate notes at Euribor plus 270 bps, €28 million of class D floating-rate notes at Euribor plus 395 bps, €19 million of class E floating-rate notes at Euribor plus 660 bps, €11 million of class F floating-rate notes at Euribor plus 820 bps and €29.4 million of subordinated notes.
Ares Management Ltd. will manage the collateral through the end of the reinvestment period on Jan. 15, 2029.
Collateral for the notes consists of syndicated speculative-grade senior secured term loans and bonds.
The notes can be called starting Dec. 18, 2025.
J.P. Morgan Securities plc was the placement agent.
Ares European Loan Management is an asset management firm based in London.
| Issuer: | Ares European CLO XIX DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €403.4 million
|
| Maturity: | July 15, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities plc
|
| Manager: | Ares Management Ltd.
|
| Call feature: | Dec. 18, 2025
|
| Pricing date: | April 16
|
| Settlement date: | June 18
|
|
|
| Class A notes
|
| Amount: | €244 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 147 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | €50 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 220 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | €22 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 270 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | €28 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 395 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | €19 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 660 bps
|
| Rating: | S&P: BB-
|
|
|
| Class F notes
|
| Amount: | €11 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 820 bps
|
| Rating: | S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | €29.4 million
|
| Securities: | Subordinated notes
|
|
|
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