Chicago, Jan. 26 – Partners Group (UK) Management Ltd. sold €353.5 million in a collateralized loan obligation being issued by Penta CLO 2021-2 DAC, according to an indenture and multiple notices.
The notes will mature on Nov. 4, 2034.
The CLO consists of €217 million of class A senior secured floating-rate notes at Euribor plus 101 basis points, €23.4 million of class B-1 senior secured floating-rate notes at Euribor plus 180 bps, €10 million of class B-2 2% senior secured fixed-rate notes, €21 million of class C senior secured deferrable floating-rate notes at Euribor plus 230 bps, €23.5 million of class D senior secured deferrable floating-rate notes at Euribor plus 320 bps, €18 million of class E senior secured deferrable floating-rate notes at Euribor plus 612 bps, €12.7 million of class F senior secured deferrable floating-rate notes at Euribor plus 890 bps and €27.9 million of subordinated notes.
Partners Group (UK) Management Ltd. will manage the collateral through the end of the reinvestment period on Mary 4, 2026.
Backing the notes are senior, mezzanine, second-lien, first-lien last-out loans and high-yield bonds.
The notes can be called starting April 28, 2023.
Morgan Stanley & Co. International plc was the placement agent.
Partners Group is a London-based private markets investment manager.
| Issuer: | Penta CLO 2021-2 DAC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | €353.5 million
|
| Maturity: | Nov. 4, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. International plc
|
| Manager: | Partners Group (UK) Management Ltd.
|
| Call feature: | April 28, 2023
|
| Settlement date: | Oct. 28
|
|
|
| Class A notes
|
| Amount: | €217 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 101 bps
|
| Price: | Par
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €23.4 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 180 bps
|
| Price: | Par
|
| Rating: | Moody's: Aa2
|
| Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €10 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2%
|
| Price: | Par
|
| Rating: | Moody's: Aa2
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €21 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 230 bps
|
| Price: | Par
|
| Rating: | Moody's: A2
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €23.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 320 bps
|
| Price: | Par
|
| Rating: | Moody's: Baa3
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €18 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 612 bps
|
| Price: | 98
|
| Rating: | Moody's: Ba3
|
| Fitch: BB-
|
|
|
| Class R notes
|
| Amount: | €12.7 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 890 bps
|
| Price: | 97
|
| Rating: | Moody's: B3
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €27.9 million
|
| Securities: | Subordinated notes
|
| Price: | Par
|
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