Chicago, May 3 – Oaktree Capital Management (Europe) LLP sold €406 million of notes due April 17, 2034 in a collateralized loan obligation issued by Arbour CLO IX DAC, according to a notice.
The portfolio has €1.5 million of class X senior secured floating-rate notes at Euribor plus 28 basis points, €246 million of class A senior secured floating-rate notes at Euribor plus 80 bps, €22 million of class B-1 senior secured floating-rate notes at Euribor plus 160 bps and €20 million of class B-2 2% senior secured fixed-rate notes.
There are also €28 million of class C senior secured deferrable floating-rate notes at Euribor plus 230 bps, €25 million of class D senior secured deferrable floating-rate notes at Euribor plus 325 bps, €21 million of class E senior secured deferrable floating-rate notes at Euribor plus 586 bps and €12 million of class F senior secured deferrable floating-rate notes at Euribor plus 870 bps.
Additionally, there are also €250,000 of class M notes and €30.2 million of subordinated notes.
Oaktree is managing the collateral during the 4.5-year reinvestment period.
Most of the collateral must be senior secured obligations.
Credit Suisse Securities (Europe) Ltd. is the underwriter.
The London-based asset manager is an affiliate of Los Angeles-based Oaktree Capital Management, LP.
| Issuer: | Arbour CLO IX DAC
|
| Issue: | Floating-rate, fixed-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Amount: | €406 million
|
| Maturity: | April 17, 2034
|
| Agent: | Credit Suisse Securities (Europe) Ltd.
|
| Manager: | Oaktree Capital Management (Europe) LLP
|
| Settlement date: | May 28
|
|
|
| Class X notes
|
| Amount: | €1.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 28 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A notes
|
| Amount: | €246 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 80 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-1 notes
|
| Amount: | €22 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 160 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class B-2 notes
|
| Amount: | €20 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2%
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | €28 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 230 bps
|
| Rating: | Moody's: A3
|
|
|
| Class D notes
|
| Amount: | €25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 325 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
|
| Amount: | €21 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 586 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Class F notes
|
| Amount: | €12 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 870 bps
|
| Rating: | Moody's: B3
|
|
|
| Class M notes
|
| Amount: | €250,000
|
| Securities: | Subordinated notes
|
|
|
| Subordinated notes
|
| Amount: | €30.2 million
|
| Securities: | Subordinated notes
|
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