Chicago, Nov. 10 – Palmer Square Europe Capital Management LLC sold €389.5 million in a collateralized loan obligation being issued by Palmer Square European Loan Funding 2022-3 DAC, according to multiple press releases.
The notes will mature on April 12, 2032.
The CLO consists of €268 million of class A senior secured floating-rate notes at Euribor plus 195 basis points, €34.4 million of class B senior secured floating-rate notes at Euribor plus 375 bps, €19.2 million of class C senior secured deferrable floating-rate notes at Euribor plus 475 bps, €14.2 million of class D senior secured deferrable floating-rate notes at Euribor plus 601 bps, €22.2 million of class E senior secured deferrable floating-rate notes at Euribor plus 728 bps and €31.5 million of subordinated notes.
Palmer Square Europe Capital Management LLC will manage the collateral. The CLO is static.
Collateral for the notes consists of senior secured loans and bonds.
J.P. Morgan Securities plc was the placement agent.
Palmer Square Europe is a London-based affiliate of Palmer Square Capital, an investment management firm based in Leawood, Kan.
| Issuer: | Palmer Square European Loan Funding 2022-3 DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €389.5 million
|
| Maturity: | April 12, 2032
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities plc
|
| Manager: | Palmer Square Europe Capital Management LLC
|
| Settlement date: | Oct. 26
|
|
|
| Class A notes
|
| Amount: | €268 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 195 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | €34.4 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 375 bps
|
| Rating: | Moody's: Aa2
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €19.2 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 475 bps
|
| Rating: | Moody's: A2
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €14.2 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 601 bps
|
| Rating: | Moody's: Baa3
|
| Fitch: BBB+
|
|
|
| Class E notes
|
| Amount: | €22.2 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 728 bps
|
| Rating: | Moody's: Ba3
|
| Fitch: BB
|
|
|
| Subordinated notes
|
| Amount: | €31.5 million
|
| Securities: | Subordinated notes
|
|
|
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