Chicago, May 4 – AlbaCore Capital LLP sold €452.2 million in a collateralized loan obligation issued by Albacore Euro CLO IV DAC, according to multiple press releases.
The notes will mature on April 16, 2035.
The CLO consists of €206.6 million of class A senior secured floating-rate notes at Euribor plus 112 basis points, €60 million of class A senior secured floating-rate loans at Euribor plus 112 bps, €44 million of class B-1 senior secured floating-rate notes at Euribor plus 260 bps, €10 million of class B-2 3.% senior secured fixed-rate notes, €30.4 million of class C senior secured deferrable floating-rate notes at Euribor plus 340 bps, €30.5 million of class D senior secured deferrable floating-rate notes at Euribor plus 460 bps, €21.7 million of class E senior secured deferrable floating-rate notes at Euribor plus 690 bps, €14.6 million of class F senior secured deferrable floating-rate notes at Euribor plus 936 bps and €34.4 million of subordinated notes.
AlbaCore Capital LLP will manage the collateral through the end of the three-year reinvestment period.
Collateral for the notes consists of euro-denominated senior secured loans and bonds issued by speculative-grade borrowers.
Jefferies International Ltd. was the placement agent.
Based in London, AlbaCore is a specialist European credit platform focused on European corporate credit markets.
| Issuer: | Albacore Euro CLO IV DAC
|
| Issue: | Floating-rate notes, floating-rate loans, fixed-rate notes and subordinated notes
|
| Amount: | €452.2 million
|
| Maturity: | April 16, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies International Ltd.
|
| Manager: | AlbaCore Capital LLP
|
| Settlement date: | April 12
|
|
|
| Class A notes
|
| Amount: | €206.6 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 112 bps
|
| Rating: | Moody's: Aaa
|
| S&P: AAA
|
|
|
| Class A loans
|
| Amount: | €60 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | Euribor plus 112 bps
|
| Rating: | Moody's: Aaa
|
| S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €44 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 260 bps
|
| Rating: | Moody's: Aa2
|
| S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | €10 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 3%
|
| Rating: | Moody's: Aa2
|
| S&P: AA
|
|
|
| Class C notes
|
| Amount: | €30.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 340 bps
|
| Rating: | Moody's: A2
|
| S&P: A
|
|
|
| Class D notes
|
| Amount: | €30.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 460 bps
|
| Rating: | Moody's: Baa3
|
| S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | €21.7 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 690 bps
|
| Rating: | Moody's: Ba3
|
| S&P: BB-
|
|
|
| Class F notes
|
| Amount: | €14.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 936 bps
|
| Rating: | Moody's: B3
|
| S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | €34.4 million
|
| Securities: | Subordinated notes
|
|
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