Chicago, March 22 – CELF Advisors LLP repriced €336 million of notes from the Carlyle Euro CLO 2019-1 DAC collateralized loan obligation transaction that continues to mature March 15, 2032, according to a notice.
The refinancing notes are the €240 million of class A-1 senior secured floating-rate notes at Euribor plus 75 basis points, €36 million of class A-2A senior secured floating-rate notes at Euribor plus 165 bps, €10 million of class A-2B 2.1% senior secured fixed-rate notes, €23 million of class B senior secured deferrable floating-rate notes at Euribor plus 240 bps and €27 million of class C senior secured deferrable floating-rate notes at Euribor plus 350 bps.
The CLO originally sold €2.5 million of class X senior secured floating-rate notes (Aaa) at Euribor plus 65 bps, €240 million of class A-1 senior secured floating-rate notes (Aaa) at Euribor plus 110 bps, €36 million of class A-2A senior secured floating-rate notes (Aa2) at Euribor plus 210 bps and €10 million of 3.1% class A-2B senior secured fixed-rate notes (Aa2).
The CLO also originally sold €23 million of class B senior secured deferrable floating-rate notes (A2) at Euribor plus 290 bps, €27 million of class C senior secured deferrable floating-rate notes (Baa3) at Euribor plus 400 bps, €22 million of class D senior secured deferrable floating-rate notes (Ba3) at Euribor plus 620 bps and €10 million of class E senior secured deferrable floating-rate notes (B2) at Euribor plus 830 bps.
There are two-and-a-half years left on the reinvestment period during which CELF will continue to manage the collateral.
Collateral for the notes is mostly senior secured loans or senior secured bonds.
The portfolio is fully ramped as of the closing date.
The asset management firm is an affiliate of Washington, D.C.-based Carlyle Group.
| Issuer: | Carlyle Euro CLO 2019-1 DAC
|
| Issue: | Floating-rate and fixed-rate notes
|
| Structure: | Cash flow CLO
|
| Amount: | €336 million
|
| Maturity: | March 15, 2032
|
| Manager: | CELF Advisors LLP
|
| Announcement date: | March 19
|
|
|
| Class A-1 notes
|
| Amount: | €240 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 75 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2A notes
|
| Amount: | €36 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 165 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class A-2B notes
|
| Amount: | €10 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.1%
|
| Rating: | Moody's: Aa2
|
|
|
| Class B notes
|
| Amount: | €23 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 240 bps
|
| Rating: | Moody's: A2
|
|
|
| Class C notes
|
| Amount: | €27 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 350 bps
|
| Rating: | Moody's: Baa3
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
