Chicago, July 6 – Capital Four Mgt Fondsmæglerselskab AS and Capital Four CLO Management II KS sold €351.6 million in a collateralized loan obligation being issued by Capital Four CLO IV DAC, according to a new issue report and a press release.
The notes will mature on April 13, 2035.
The CLO consists of €213.9 million of class A senior secured floating-rate notes at Euribor plus 112 basis points, €40 million of class B senior secured floating-rate notes at Euribor plus 229 bps, €17.2 million of class C senior secured deferrable floating-rate notes at Euribor plus 325 bps, €23.6 million of class D senior secured deferrable floating-rate notes at Euribor plus 450 bps, €19.4 million of class E senior secured deferrable floating-rate notes at Euribor plus 725 bps, €7.9 million of class F senior secured deferrable floating-rate notes at Euribor plus 945 bps and €29.6 million of subordinated notes.
Capital Four Mgt Fondsmæglerselskab AS and Capital Four CLO Management II KS will manage the collateral through the end of the two-year reinvestment period.
Collateral for the notes consists of senior secured obligations.
The notes can be called starting after one year.
J.P. Morgan Securities plc was the placement agent.
The CLO manager is part of Copenhagen-based credit asset management firm.
| Issuer: | Capital Four CLO IV DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €351.6 million
|
| Maturity: | April 13, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities plc
|
| Managers: | Capital Four Mgt Fondsmæglerselskab AS and Capital Four CLO Management II KS
|
| Call feature: | One year
|
| Settlement date: | June 21
|
|
|
| Class A notes
|
| Amount: | €213.9 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 112 bps
|
| Rating: | Moody's: Aaa
|
| S&P: AAA
|
|
|
| Class B notes
|
| Amount: | €40 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 229 bps
|
| Rating: | Moody's: Aa2
|
| S&P: AA
|
|
|
| Class C notes
|
| Amount: | €17.2 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 325 bps
|
| Rating: | Moody's: A2
|
| S&P: A
|
|
|
| Class D notes
|
| Amount: | €23.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 450 bps
|
| Rating: | Moody's: Baa3
|
| S&P: BBB
|
|
|
| Class E notes
|
| Amount: | €19.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 725 bps
|
| Rating: | Moody's: Ba3
|
| S&P: BB-
|
|
|
| Class F notes
|
| Amount: | €7.9 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 945 bps
|
| Rating: | Moody's: B3
|
| S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | €29.6 million
|
| Securities: | Subordinated notes
|
|
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