Chicago, Oct. 7 – Cross Ocean Adviser LLP sold €398.6 million in a collateralized loan obligation being issued by Bosphorus CLO VII DAC, according to multiple press releases.
The notes will mature on Oct. 17, 2034.
The CLO consists of €242 million of class A secured floating-rate notes at Euribor plus 200 basis points, €46 million of class B secured floating-rate notes at Euribor plus 438 bps, €20.2 million of class C secured deferrable floating-rate notes at Euribor plus 491 bps, €23.6 million of class D secured deferrable floating-rate notes at Euribor plus 579 bps, €25.2 million of class E secured deferrable floating-rate notes at Euribor plus 753 bps, €4.1 million of class F secured deferrable floating-rate notes at Euribor plus 1,069 bps and €37.5 million of subordinated notes.
Cross Ocean Adviser LLP will manage the collateral through the end of the one-year reinvestment period.
Collateral for the notes consists of senior secured obligations.
Deutsche Bank AG was the placement agent.
Cross Ocean is an investment adviser. The firm has offices in London, Greenwich and Dublin.
| Issuer: | Bosphorus CLO VII DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €398.6 million
|
| Maturity: | Oct. 17, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Deutsche Bank AG
|
| Manager: | Cross Ocean Adviser LLP
|
| Settlement date: | Oct. 26
|
|
|
| Class A notes
|
| Amount: | €242 million
|
| Securities: | Secured floating-rate notes
|
| Coupon: | Euribor plus 200 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | €46 million
|
| Securities: | Secured floating-rate notes
|
| Coupon: | Euribor plus 438 bps
|
| Rating: | Moody's: Aa2
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €20.2 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 491 bps
|
| Rating: | Moody's: A2
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €23.6 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 579 bps
|
| Rating: | Moody's: Baa3
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €25.2 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 753 bps
|
| Rating: | Moody's: Ba3
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €4.1 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 1,069 bps
|
| Rating: | Moody's: B3
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €37.5 million
|
| Securities: | Subordinated notes
|
|
|
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