Chicago, May 11 – Capital Four CLO Management II K/S sold €351.7 million in a collateralized loan obligation issued by Capital Four CLO V DAC, according to an offering document.
The notes will mature on April 25, 2036.
The CLO consists of €211.8 million of class A senior secured floating-rate notes at Euribor plus 184 basis points, €27.8 million of class B-1 senior secured floating-rate notes at Euribor plus 300 bps, €9 million of class B-2 6.5% senior secured fixed-rate notes, €17.5 million of class C senior secured deferrable floating-rate notes at Euribor plus 385 bps, €22.8 million of class D senior secured deferrable floating-rate notes at Euribor plus 585 bps, €15.4 million of class E senior secured deferrable floating-rate notes at Euribor plus 691 bps, €12 million of class F senior secured deferrable floating-rate notes at Euribor plus 1,100 bps and €35.4 million of subordinated notes.
Capital Four CLO Management II K/S will manage the collateral through the end of the reinvestment period on Sept. 8, 2027.
Collateral for the notes consists of senior obligations, mezzanine obligations and high-yield bonds.
The notes can be called starting March 8, 2025.
Goldman Sachs International was the placement agent.
The CLO manager is part of Copenhagen-based credit asset management firm.
Issuer: | Capital Four CLO V DAC
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Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
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Amount: | €351.7 million
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Maturity: | April 25, 2036
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Structure: | Cash flow CLO
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Placement agent: | Goldman Sachs International
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Manager: | Capital Four CLO Management II K/S
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Call feature: | March 8, 2025
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Pricing date: | March 7
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Settlement date: | March 8
|
|
Class A notes
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Amount: | €211.8 million
|
Securities: | Senior secured floating-rate notes
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Coupon: | Euribor plus 184 bps
|
Price: | Par
|
Rating: | Moody’s: Aaa
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| S&P: AAA
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| Fitch: AAA
|
|
Class B-1 notes
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Amount: | €27.8 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Euribor plus 300 bps
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Price: | Par
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Rating: | S&P: AA
|
| Fitch: AA
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|
Class B-2 notes
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Amount: | €9 million
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Securities: | Senior secured fixed-rate notes
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Coupon: | 6.5%
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Price: | Par
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Rating: | S&P: A
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| Fitch: A
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|
Class C notes
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Amount: | €17.5 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Euribor plus 385 bps
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Price: | Par
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Rating: | S&P: BBB
|
| Fitch: BBB-
|
|
Class D notes
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Amount: | €22.8 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Euribor plus 585 bps
|
Price: | Par
|
Rating: | S&P: BBB
|
| Fitch: BBB-
|
|
Class E notes
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Amount: | €15.4 million
|
Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Euribor plus 691 bps
|
Price: | 92
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Rating: | S&P: BB-
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| Fitch: BB-
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|
Class F notes
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Amount: | €12 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Euribor plus 1100 bps
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Rating: | S&P: B
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| Fitch: B-
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Subordinated notes
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Amount: | €35.4 million
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Securities: | Subordinated notes
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Price: | Par
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