Chicago, Feb. 15 – Oaktree Capital Management (Europe) LLP sold €403.25 million in a collateralized loan obligation issued by Arbour CLO X DAC, according to multiple notices.
The notes will mature on June 15, 2034.
The CLO consists of €246 million of class A senior secured floating-rate notes at Euribor plus 97 basis points, €30 million of class B-1 senior secured floating-rate notes at Euribor plus 180 bps, €10 million of class B-2 senior secured floating-rate notes at Euribor plus bps, €26.4 million of class C senior secured deferrable floating-rate notes at Euribor plus 230 bps, €28.6 million of class D senior secured deferrable floating-rate notes at Euribor plus 350 bps, €20 million of class E senior secured deferrable floating-rate notes at Euribor plus 625 bps, €12 million of class F senior secured deferrable floating-rate notes at Euribor plus 895 bps, €250,000 of class M notes and €30 million of subordinated notes.
Oaktree Capital Management (Europe) LLP will manage the collateral through the end of the 4.5-year reinvestment period.
Collateral for the notes will come from senior, mezzanine, second-lien loans and high-yield bonds.
J.P. Morgan Securities plc was the placement agent.
The London-based asset manager is an affiliate of Los Angeles-based Oaktree Capital Management, LP.
| Issuer: | Arbour CLO X DAC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | €403.25 million
|
| Maturity: | June 15, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities plc
|
| Manager: | Oaktree Capital Management (Europe) LLP
|
| Settlement date: | Jan. 14
|
|
|
| Class A notes
|
| Amount: | €246 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 97 bps
|
| Rating: | Moody’s: Aaa
|
| Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €30 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 180 bps
|
| Rating: | Moody’s: Aa2
|
| Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €10 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus bps
|
| Rating: | Moody’s: Aa2
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €26.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 230 bps
|
| Rating: | Moody’s: A2
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €28.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 350 bps
|
| Rating: | Moody’s: Baa3
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 625 bps
|
| Rating: | Moody’s: Ba3
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €12 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 895 bps
|
| Rating: | Moody’s: B3
|
| Fitch: B-
|
|
|
| Class M notes
|
| Amount: | €250,000
|
| Securities: | Notes
|
|
|
| Subordinated notes
|
| Amount: | €30 million
|
| Securities: | Subordinated notes
|
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