Chicago, Nov. 21 – Partners Group (UK) Management Ltd. sold €303.05 million in a collateralized loan obligation issued by Penta CLO 12 DAC, according to the listing particulars and a presale report.
The notes will mature on Oct. 20, 2035.
The CLO consists of €133 million of class A senior secured floating-rate notes at Euribor plus 210 basis points, €50 million of class A senior secured floating-rate loans at Euribor plus 210 bps, €24.9 million of class B senior secured floating-rate notes at Euribor plus 424 bps, €17.4 million of class C senior secured deferrable floating-rate notes at Euribor plus 508 bps, €18.1 million of class D senior secured deferrable floating-rate notes at Euribor plus 664 bps, €11.4 million of class E senior secured deferrable floating-rate notes at Euribor plus 896 bps, €12 million of class F senior secured deferrable floating-rate notes at Euribor plus 1,050 bps and €36.25 million of subordinated notes.
Partners Group (UK) Management Ltd. will manage the collateral through the end of the reinvestment period on April 20, 2027.
Collateral for the notes consists of corporate rescue loans, senior unsecured, mezzanine, second-lien loans and high-yield bonds.
The notes can be called starting May 9, 2024.
Morgan Stanley & Co. International plc was the placement agent.
The private markets investment manager is based in London.
| Issuer: | Penta CLO 12 DAC
|
| Issue: | Floating-rate notes, floating-rate loans and subordinated notes
|
| Amount: | €303.05 million
|
| Maturity: | Oct. 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. International plc
|
| Manager: | Partners Group (UK) Management Ltd.
|
| Call feature: | May 9, 2024
|
| Pricing date: | Nov. 7
|
| Settlement date: | Nov. 9
|
|
|
| Class A notes
|
| Amount: | €133 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 210 bps
|
| Price: | 99.5
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class A loans
|
| Amount: | €50 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | Euribor plus 210 bps
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | €24.9 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 424 bps
|
| Price: | 98.5
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €17.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 508 bps
|
| Price: | 97.5
|
| Rating: | S&P: A
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €18.1 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 664 bps
|
| Price: | 95
|
| Rating: | S&P: BBB-
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €11.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 896 bps
|
| Price: | 87
|
| Rating: | S&P: BB-
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €12 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 1050 bps
|
| Rating: | S&P: B-
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €36.25 million
|
| Securities: | Subordinated notes
|
| Price: | 95
|
|
|
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