By Rebecca Melvin
New York, April 23 – Alcentra Ltd. priced a €450.75 million European collateralized loan obligation of notes due 2028, according to a market source.
Jubilee CLO 2015-XV BV priced €252.75 million of class A senior secured floating-rate notes at Euribor plus 130 basis points, €60.25 million of class B senior secured floating-rate notes at Euribor plus 215 bps, €26 million of class C deferrable floating-rate notes at Euribor plus 290 bps, €23.5 million of class D deferrable floating-rate notes at Euribor plus 365 bps; €27 million of class E deferrable floating-rate notes at Euribor plus 550 bps; €15.25 million of class F deferrable floating-rate notes at Euribor plus 700 bps and €46 million of subordinated notes.
Merrill Lynch International was the placement agent.
The notes are due July 2028.
The portfolio is backed primarily of broadly syndicated senior secured corporate loans and bonds.
The transaction is Alcentra’s first European CLO offering in 2015.
The London-based global asset management firm is an indirect subsidiary of BNY Alcentra Group Holding, Inc.
| Issuer: | Jubilee CLO 2015-XV BV
|
| Amount: | €450.75 million
|
| Maturity: | July 2028
|
| Securities: | Fixed-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Merrill Lynch International
|
| Manager: | Alcentra Ltd.
|
| Pricing date: | April 2015
|
| Settlement date: | June 2015
|
|
|
| Class A notes
|
| Amount: | €252.75 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 130 bps
|
| Rating: | Standard & Poor’s: AAA
|
|
|
| Class B notes
|
| Amount: | €60.25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 215 bps
|
| Rating: | Standard & Poor’s: AA
|
|
|
| Class C notes
|
| Amount: | €26 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Euribor plus 290 bps
|
| Rating: | Standard & Poor’s: A
|
|
|
| Class D notes
|
| Amount: | €23.5 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Euribor plus 365 bps
|
| Rating: | Standard & Poor’s: BBB
|
|
|
| Class E notes
|
| Amount: | €275 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Euribor plus 550 bps
|
| Rating: | Standard & Poor’s: BB
|
|
|
| Class F notes
|
| Amount: | €15.25 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Euribor plus 700 bps
|
| Rating: | Standard & Poor’s: B-
|
|
|
| Equity tranche
|
| Amount: | €46 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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