By Cristal Cody
Tupelo, Miss., Dec. 11 – Sculptor Europe Loan Management Ltd. priced €315.75 million of notes in the Sculptor European CLO VII DAC transaction that closed on Friday, according to market sources.
The CLO sold €186 million of class A senior secured floating-rate notes at Euribor plus 110 basis points, €11.2 million of class B-1 senior secured floating-rate notes at Euribor plus 180 bps and €12.4 million of 2.1% class B-2 senior secured fixed-rate notes.
Sculptor European CLO VII also priced €18.9 million of class C senior secured deferrable floating-rate notes at Euribor plus 300 bps; €20.5 million of class D senior secured deferrable floating-rate notes at Euribor plus 450 bps; €18.6 million of class E senior secured deferrable floating-rate notes at Euribor plus 682 bps and $5.1 million of class F senior secured deferrable floating-rate notes at Euribor plus 838 bps.
The deal included €15 million of class Z notes and €28.05 million of subordinated notes.
Barclays was the placement agent.
The notes are due in January 2034.
The CLO is collateralized primarily by broadly syndicated senior secured term loans and bonds.
The London-based firm is part of Sculptor Capital Management, Inc.
| Issuer: | Sculptor European CLO VII DAC
|
| Amount: | €315.75 million
|
| Maturity: | January 2034
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays
|
| Manager: | Sculptor Europe Loan Management Ltd.
|
| Settlement date: | Dec. 11
|
|
|
| Class A notes
|
| Amount: | €186 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 110 bps
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €11.2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 180 bps
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | €12.4 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.1%
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA
|
|
|
| Class C notes
|
| Amount: | €18.9 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 300 bps
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
|
|
| Class D notes
|
| Amount: | €20.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 450 bps
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | €18.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 682 bps
|
| Ratings: | Moody’s: Ba3
|
| S&P: BB-
|
|
|
| Class F notes
|
| Amount: | €5.1 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 838 bps
|
| Ratings: | Moody’s: B3
|
| S&P: B-
|
|
|
| Class Z notes
|
| Amount: | €15 million
|
| Securities: | Notes
|
| Ratings: | Non-rated
|
|
|
| Equity
|
| Amount: | €29.05 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
|
|
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