Chicago, Feb. 17 – Palmer Square Europe Capital Management LLC sold €503.7 million in a collateralized loan obligation being issued by Palmer Square European Loan Funding 2022-1 DAC, according to a press release.
The notes will mature on Oct. 15, 2031.
The CLO consists of €340 million of class A senior secured floating-rate notes, €57.5 million of class B senior secured floating-rate notes, €22.5 million of class C senior secured deferrable floating-rate notes, €27.5 million of class D senior secured deferrable floating-rate notes, €17.5 million of class E senior secured deferrable floating-rate notes, €5 million of class F senior secured deferrable floating-rate notes and €33.7 million of subordinated notes.
Palmer Square Europe Capital Management LLC will manage the CLO.
The CLO is static. There is no reinvestment period.
J.P. Morgan Securities plc was the placement agent.
Palmer Square Europe is a London-based affiliate of Palmer Square Capital, an investment management firm based in Leawood, Kan.
| Issuer: | Palmer Square European Loan Funding 2022-1 DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €503.7 million
|
| Maturity: | Oct. 15, 2031
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities plc
|
| Manager: | Palmer Square Europe Capital Management LLC
|
| Settlement date: | March 10
|
|
|
| Class A notes
|
| Amount: | €340 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody’s: Aaa
|
|
|
| Class B notes
|
| Amount: | €57.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody’s: Aa2
|
|
|
| Class C notes
|
| Amount: | €22.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Rating: | Moody’s: A2
|
|
|
| Class D notes
|
| Amount: | €27.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Rating: | Moody’s: Baa3
|
|
|
| Class E notes
|
| Amount: | €17.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Rating: | Moody’s: Ba2
|
|
|
| Class F notes
|
| Amount: | €5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Rating: | Moody’s: B1
|
|
|
| Subordinated notes
|
| Amount: | €33.7 million
|
| Securities: | Subordinated notes
|
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