By Cristal Cody
Tupelo, Miss., Sept. 21 – Accunia Fondsmaeglerselskab A/S priced €386.6 million of notes due Oct. 15, 2030 in a new collateralized loan obligation transaction, according to a market source.
Accunia European CLO II BV sold €223.5 million of class A senior secured floating-rate notes at Euribor plus 93 basis points; €38.1 million of class B-1 senior secured floating-rate notes at Euribor plus 155 bps; €9 million of 2.25% class B-2 senior secured fixed-rate notes; €23.1 million of class C senior secured deferrable floating-rate notes at Euribor plus 210 bps; €17.3 million of class D senior secured deferrable floating-rate notes at Euribor plus 300 bps; €21.7 million of class E senior secured deferrable floating-rate notes at Euribor plus 498 bps; €12.5 million of class F senior secured deferrable floating-rate notes at Euribor plus 660 bps and €41.4 million of subordinated notes.
Deutsche Bank AG, London Branch arranged the deal.
Accunia will manage the CLO.
The CLO has a two-year non-call period and a four-year reinvestment period.
The deal is backed primarily by broadly syndicated European senior secured loans and bonds.
Accunia is a Copenhagen-based asset management firm.
| Issuer: | Accunia European CLO II BV
|
| Amount: | €386.6 million
|
| Maturity: | Oct. 15, 2030
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Deutsche Bank AG, London Branch
|
| Manager: | Accunia Fondsmaeglerselskab A/S
|
| Call feature: | Two years
|
| Pricing date: | Sept. 19
|
| Settlement date: | Oct. 17
|
|
|
| Class A notes
|
| Amount: | €223.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 93 bps
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €38.1 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 155 bps
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | €9 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.25%
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA
|
|
|
| Class C notes
|
| Amount: | €23.1 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 210 bps
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
|
|
| Class D notes
|
| Amount: | €17.3 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 300 bps
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB
|
|
|
| Class E notes
|
| Amount: | €21.7 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 498 bps
|
| Ratings: | Moody’s: Ba2
|
| S&P: BB
|
|
|
| Class F notes
|
| Amount: | €12.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 660 bps
|
| Ratings: | Moody’s: B2
|
| S&P: B-
|
|
|
| Equity
|
| Amount: | $41.4 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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