By Cristal Cody
Tupelo, Miss., Dec. 8 – Cassa di Risparmio di Asti SpA brought a €683.2 million collateralized loan obligation deal, according to a market source.
The Asti PMI Srl CLO sold €410 million of class A floating-rate notes at Euribor plus 80 bps and €273.2 million of class B floating-rate notes at Euribor plus 100 bps.
Bimini Advisors LLC was the placement agent.
Cassa di Risparmio di Asti will manage the CLO.
The notes are due July 28, 2064.
The CLO is a cash flow securitization of mortgage and non-mortgage loans to Italian small- and medium-sized enterprises by Cassa di Risparmio di Asti.
Cassa di Risparmio di Asti is an Asti, Italy-based bank.
| Issuer: | Asti PMI Srl
|
| Amount: | €683.2 million
|
| Maturity: | July 28, 2064
|
| Securities: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Bimini Advisors LLC
|
| Manager: | Cassa di Risparmio di Asti SpA
|
| Pricing date: | Nov. 28
|
|
|
| Class A notes
|
| Amount: | €410 million
|
| Coupon: | Euribor plus 80 bps
|
| Rating: | Fitch: AA+
|
|
|
| Class B notes
|
| Amount: | €273.2 million
|
| Coupon: | Euribor plus 100 bps
|
| Ratings: | Non-rated
|
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