Chicago, May 30 – Partners Group (UK) Management Ltd. sold €405.9 million in a collateralized loan obligation being issued by Penta CLO 10 DAC, according to multiple press releases.
The notes will mature on Nov. 20, 2034.
The CLO consists of €252 million of class A senior secured floating-rate notes at Euribor plus 102 basis points, €27 million of class B-1 senior secured floating-rate notes at Euribor plus 180 bps, €10 million of class B-2 2% senior secured fixed-rate notes, €24 million of class C senior secured deferrable floating-rate notes at Euribor plus 230 bps, €27.5 million of class D senior secured deferrable floating-rate notes at Euribor plus 330 bps, €20.5 million of class E senior secured deferrable floating-rate notes at Euribor plus 623 bps, €12 million of class F senior secured deferrable floating-rate notes at Euribor plus 880 bps and €32.9 million of subordinated notes.
Partners Group (UK) Management Ltd. will manage the collateral through the end of the five-year reinvestment period.
Collateral for the notes consists of senior, mezzanine, second-lien loans and high-yield bonds.
BNP Paribas was the placement agent.
The private markets investment manager is based in London.
| Issuer: | Penta CLO 10 DAC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | €405.9 million
|
| Maturity: | Nov. 20, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | BNP Paribas
|
| Manager: | Partners Group (UK) Management Ltd.
|
| Settlement date: | Nov. 30, 2021
|
|
|
| Class A notes
|
| Amount: | €252 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 102 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €27 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 fixed-rate notes
|
| Coupon: | 2%
|
| Rating: | Moody's: Aa2
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 230 bps
|
| Rating: | Moody's: A2
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €27.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 330 bps
|
| Rating: | Moody's: Baa3
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €20.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 623 bps
|
| Rating: | Moody's: Ba3
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €12 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 880 bps
|
| Rating: | Moody's: B3
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €32.9 million
|
| Securities: | Subordinated notes
|
|
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