Chicago, Feb. 17 – Acer Tree Investment Management LLP sold €410.5 million in a collateralized loan obligation being issued by Logiclane I CLO DAC, according to multiple press releases.
The notes will mature on March 15, 2035.
The CLO consists of €248 million of class A senior secured floating-rate notes at Euribor plus 97 basis points, €42 million of class B senior secured floating-rate notes at Euribor plus 180 bps, €22.6 million of class C mezzanine secured deferrable floating-rate notes at Euribor plus 250 bps, €28.4 million of class D mezzanine secured deferrable floating-rate notes at Euribor plus 360 bps, €21 million of class E junior secured deferrable floating-rate notes at Euribor plus 668 bps, €11 million of class F senior secured deferrable floating-rate notes at Euribor plus 929 bps and €37.5 million of subordinated notes.
Acer Tree Investment Management LLP will manage the collateral through the end of the 4.5-year reinvestment period.
Collateral for the notes comes from senior, mezzanine, second-lien loans, first-lien last-out loans and high-yield bonds.
Barclays was the placement agent.
Acer Tree is an Ireland-based hedge fund manager founded in late 2019.
| Issuer: | Logiclane I CLO DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €410.5 million
|
| Maturity: | March 15, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays
|
| Manager: | Acer Tree Investment Management LLP
|
| Settlement date: | March 18
|
|
|
| Class A notes
|
| Amount: | €248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 97 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | €42 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 180 bps
|
| Rating: | Moody's: Aa2
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €22.6 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 250 bps
|
| Rating: | Moody's: A2
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €28.4 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 360 bps
|
| Rating: | Moody's: Baa3
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €21 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 668 bps
|
| Rating: | Moody's: Ba3
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €11 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 929 bps
|
| Rating: | Moody's: B3
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €37.5 million
|
| Securities: | Subordinated notes
|
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