Chicago, Nov. 18 – Five Arrows Managers LLP sold €305.8 million in a collateralized loan obligation issued by Contego CLO X DAC, according to the listing particulars and presale reports.
The notes will mature on Nov. 15, 2036.
The CLO consists of €175.5 million of class A senior secured floating-rate notes at Euribor plus 200 basis points, €20.8 million of class B-1 senior secured floating-rate notes at Euribor plus 340 bps, €10 million of class B-2 6.5% senior secured fixed-rate notes, €18 million of class C senior secured deferrable floating-rate notes at Euribor plus 450 bps, €19.5 million of class D senior secured deferrable floating-rate notes at Euribor plus 583 bps, €15 million of class E senior secured deferrable floating-rate notes at Euribor plus 792 bps, €15 million of class F senior secured deferrable floating-rate notes at Euribor plus 850 bps and €32 million of subordinated notes.
Five Arrows Managers LLP will manage the collateral through the end of the reinvestment period on May 15, 2027.
Collateral for the notes consists of senior unsecured, mezzanine, second-lien loans, first-lien, last-out loans and high-yield bonds.
The notes can be called starting May 15, 2024.
Barclays was the placement agent.
Five Arrows Managers is a Los Angeles-based investment manager and subsidiary of Rothschild North America Holdings, Inc.
| Issuer: | Contego CLO X DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €305.8 million
|
| Maturity: | Nov. 15, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays
|
| Manager: | Five Arrows Managers LLP
|
| Call feature: | May 15, 2024
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 27
|
|
|
| Class A notes
|
| Amount: | €175.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 200 bps
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €20.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 340 bps
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €10 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6.5%
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €18 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 450 bps
|
| Rating: | S&P: A
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €19.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 583 bps
|
| Rating: | S&P: BBB-
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €15 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 792 bps
|
| Rating: | S&P: BB-
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €15 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 850 bps
|
| Rating: | S&P: B-
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €32 million
|
| Securities: | Subordinated notes
|
|
|
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