CQS to price €362.2 million European Grosvenor Place 2013-1 CLO

By Cristal Cody

Tupelo, Miss., Oct. 24 - CQS Management, Ltd. is expected to price a €362.2 million European CLO transaction at the end of the month, according to an informed source.

The Grosvenor Place 2013-1 deal is scheduled to include €202.13 million of class A-1 floating-rate notes (expected Aaa//AAA); €46.38 million of class A-2 floating-rate notes (expected Aa2//AA); €21 million of class B floating-rate notes (expected A2//A); €18.38 million of class C floating-rate notes (expected Baa2//BBB); €22.75 million of class D floating-rate notes (expected Ba2//BB); €11.38 million of class E floating-rate notes (expected B2//B-) and €40.18 million of subordinated notes in the equity tranche.

Deutsche Bank AG, London Branch will arrange the deal.

CQS Investment Management will manage the CLO, which will be backed primarily by senior secured corporate loans.

The deal is expected to be about 50% ramped at closing.

The CLO will have a non-call period that ends in October 2015 and a reinvestment period that ends in October 2017.

CQS is a global management asset firm based in London.

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