Bain Capital Credit to price €362.5 million of notes in Bain Capital Euro CLO 2017-1

By Rebecca Melvin

New York, Aug. 18 – Bain Capital Credit Ltd. plans to price €362.5 million of notes due Oct. 17, 2030 in the new Bain Capital Euro CLO 2017-1 DAC, according to a market source.

The deal includes €206.5 million of class A senior secured floating-rate notes (/AAA/), €31.50 million of class B-1 senior secured floating-rate notes (/AA/), €15 million of class B-2 senior secured floating-rate notes (/AA/), €22 million of class C senior secured floating-rate notes (/A/), €17.5 million of class D senior secured deferrable floating-rate notes (/BBB/), €22.5 million of class E senior secured deferrable floating-rate notes (/BB/), €10.5 million of class F senior secured deferrable floating-rate notes (/B-/) and €37 million of subordinated notes.

The CLO is expected to close on Oct. 12. Citigroup Global Markets Ltd. is arranging the financing.

Bain Capital Credit is the CLO manager.

The deal is backed primarily by broadly syndicated senior secured loans and bonds.

The Boston-based asset management firm is a subsidiary of Bain Capital LP.

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