Chicago, Jan. 31 – Assured Investment Management LLC sold €359.25 million in a collateralized loan obligation being issued by BlueMountain EUR 2021-2 CLO DAC, according to an indenture.
The notes will mature on Oct. 15, 2035.
The CLO consists of €210 million of class A senior secured floating-rate notes at Euribor plus 100 basis points, €27 million of class B-1 senior secured floating-rate notes at Euribor plus 175 bps, €15 million of class B-2 2.05% senior secured fixed-rate notes, €24 million of class C deferrable mezzanine floating-rate notes at Euribor plus 220 bps, €23 million of class D deferrable mezzanine floating-rate notes at Euribor plus 310 bps, €16.75 million of class E deferrable junior floating-rate notes at Euribor plus 621 bps, €10.5 million of class F deferrable junior floating-rate notes at Euribor plus 884 bps and €33 million of subordinated notes.
Assured Investment Management LLC will manage the collateral through the end of the reinvestment period on July 15, 2026.
Collateral will consist of a pool of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting May 17, 2023.
Citigroup Global Markets Ltd. was the placement agent.
Assured Investment Management is the New York-based institutional asset management business of Assured Guaranty.
| Issuer: | BlueMountain EUR 2021-2 CLO DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €359.25 million
|
| Maturity: | Oct. 15, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Ltd.
|
| Manager: | Assured Investment Management LLC
|
| Call feature: | May 17, 2023
|
| Settlement date: | Nov. 16
|
|
|
| Class A notes
|
| Amount: | €210 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 100 bps
|
| Price: | Par
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €27 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 175 bps
|
| Price: | Par
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €15 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.05%
|
| Price: | Par
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €24 million
|
| Securities: | Deferrable Mezzanine floating-rate notes
|
| Coupon: | Euribor plus 220 bps
|
| Price: | Par
|
| Rating: | S&P: A
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €23 million
|
| Securities: | Deferrable Mezzanine floating-rate notes
|
| Coupon: | Euribor plus 310 bps
|
| Price: | Par
|
| Rating: | S&P: BBB-
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €16.75 million
|
| Securities: | Deferrable Junior floating-rate notes
|
| Coupon: | Euribor plus 621 bps
|
| Price: | 99
|
| Rating: | S&P: BB-
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €10.5 million
|
| Securities: | Deferrable Junior floating-rate notes
|
| Coupon: | Euribor plus 884 bps
|
| Price: | 97
|
| Rating: | S&P: B-
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €33 million
|
| Securities: | Subordinated notes
|
| Price: | 95
|
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