Chicago, July 12 – Capital Four Mgt Fondsmæglerselskab A/S and Capital Four CLO Management K/S priced €379.3 million in a collateralized loan obligation being issued by Capital Four CLO III DAC, according to multiple press releases.
The notes will mature on Oct. 16, 2034.
The CLO consists of €228.8 million of class A senior secured floating-rate notes at Euribor plus 102 basis points, €33.8 million of class B-1 senior secured floating-rate notes at Euribor plus 175 bps, €7.5 million of class B-2 2.05% senior secured fixed-rate notes, €23 million of class C senior secured deferrable floating-rate notes at Euribor plus 215 bps, €27 million of class D senior secured deferrable floating-rate notes at Euribor plus 310 bps, €18.8 million of class E senior secured deferrable floating-rate notes at Euribor plus 606 bps, €11.3 million of class F senior secured deferrable floating-rate notes at Euribor plus 907 bps and €29.1 million of subordinated notes.
Capital Four Mgt Fondsmæglerselskab AS and Capital Four CLO Management KS will manage the collateral through the end of the reinvestment period on 4.5-year.
Collateral for the notes consists of senior secured obligations.
Merrill Lynch International was the placement agent.
The CLO manager is part of Copenhagen-based credit asset management firm.
| Issuer: | Capital Four CLO III DAC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | €379.3 million
|
| Maturity: | Oct. 16, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Merrill Lynch International
|
| Managers: | Capital Four Mgt Fondsmæglerselskab AS, Capital Four CLO Management KS
|
| Settlement date: | Oct. 27, 2021
|
|
|
| Class A notes
|
| Amount: | €228.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 102 bps
|
| Rating: | Moody's: Aaa
|
| S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €33.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 175 bps
|
| Rating: | Moody's: Aa2
|
| S&P: AA
|
|
|
| Class B-2 notes
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| Amount: | €7.5 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.05%
|
| Rating: | Moody's: Aa2
|
| S&P: AA
|
|
|
| Class C notes
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| Amount: | €23 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 215 bps
|
| Rating: | Moody's: A2
|
| S&P: A
|
|
|
| Class D notes
|
| Amount: | €27 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 310 bps
|
| Rating: | Moody's: Baa3
|
| S&P: BBB
|
|
|
| Class E notes
|
| Amount: | €18.8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 606 bps
|
| Rating: | Moody's: Ba3
|
| S&P: BB-
|
|
|
| Class F notes
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| Amount: | €11.3 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 907 bps
|
| Rating: | Moody's: B3
|
| S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | €29.1 million
|
| Securities: | Subordinated notes
|
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