Chicago, March 31 – Ares European Loan Management LLP repriced one class of notes from the vintage Ares European CLO VII Ltd. collateralized loan obligation, according to a notice.
The CLO is selling €265 million of class A-1-R senior secured floating-rate notes at Euribor plus 66 bps.
The notes continue with an Oct. 15, 2030 maturity.
Most of the collateral for the notes is senior secured loans or senior secured bonds.
Ares European Loan Management will continue to manage the collateral through October when the reinvestment period ends.
Credit Suisse Securities (Europe) Ltd. is the initial purchaser of the refinancing notes.
A broader refinancing was planned that included the class A-2A and class A-2B notes, but those classes are not included.
The manager is a London-based firm.
| Issuer: | Ares European CLO VII Ltd.
|
| Issue: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Amount: | €265 million
|
| Maturity: | Oct. 15, 2030
|
| Agent: | Credit Suisse Securities (Europe) Ltd.
|
| Manager: | Ares European Loan Management LLP
|
| Announcement date: | March 29
|
| Settlement date: | April 15
|
|
|
| Class A-1-R notes
|
| Securities: | Senior secured floating-rate notes
|
| Amount: | €265 million
|
| Coupon: | Euribor plus 66 bps
|
| Rating: | Moody’s: Aaa
|
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