Chicago, May 2 – Palmer Square Europe Capital Management LLC sold €398.7 million in a collateralized loan obligation being issued by Palmer Square European Loan Funding 2022-2 DAC, according to multiple press releases.
The notes will mature on Oct. 15, 2031.
The CLO consists of €272 million of class A senior secured floating-rate notes at Euribor plus 105 basis points, €44 million of class B senior secured floating-rate notes at Euribor plus 250 bps, €18 million of class C senior secured deferrable floating-rate notes at Euribor plus 350 bps, €22 million of class D senior secured deferrable floating-rate notes at Euribor plus 450 bps, €16 million of class E senior secured deferrable floating-rate notes at Euribor plus 737 bps and €26.7 million of subordinated notes.
Palmer Square Europe Capital Management LLC will manage the collateral.
This is a static CLO. There is no reinvestment period.
Collateral for the notes consists of senior secured loans and bonds.
J.P. Morgan Securities plc was the placement agent.
Palmer Square Europe is a London-based affiliate of Palmer Square Capital, an investment management firm based in Leawood, Kan.
Issuer: | Palmer Square European Loan Funding 2022-2 DAC
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Issue: | Floating-rate notes and subordinated notes
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Amount: | €398.7 million
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Maturity: | Oct. 15, 2031
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Structure: | Cash flow CLO
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Placement agent: | J.P. Morgan Securities plc
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Manager: | Palmer Square Europe Capital Management LLC
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Settlement date: | May 5
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|
Class A notes
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Amount: | €272 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Euribor plus 105 bps
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Rating: | Moody's: Aaa
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| Fitch: AAA
|
|
Class B notes
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Amount: | €44 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Euribor plus 250 bps
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Rating: | Moody's: Aa2
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| Fitch: AA
|
|
Class C notes
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Amount: | €18 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Euribor plus 350 bps
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Rating: | Moody's: A2
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| Fitch: A+
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Class D notes
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Amount: | €22 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Euribor plus 450 bps
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Rating: | Moody's: Baa3
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| Fitch: BBB+
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Class E notes
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Amount: | €16 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Euribor plus 737 bps
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Rating: | Moody's: Ba3
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| Fitch: BB+
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Subordinated notes
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Amount: | €26.7 million
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Securities: | Subordinated notes
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