Chicago, April 19 – Partners Group (UK) Management Ltd. is resetting for €410.25 million the collateralized loan obligation issued by Penta CLO 12, according to a market source and a notice.
The notes will mature on May 9, 2037.
The CLO consists of €198 million of class A-R senior secured floating-rate notes at Euribor plus 149 basis points, €50 million of class A-R senior secured floating-rate loans at Euribor plus 149 bps, €42.9 million of class B-R senior secured floating-rate notes at Euribor plus 220 bps, €23.9 million of class C-R senior secured deferrable floating-rate notes at Euribor plus 270 bps, €29 million of class D-R senior secured deferrable floating-rate notes at Euribor plus 390 bps, €16.2 million of class E-R senior secured deferrable floating-rate notes at Euribor plus 709 bps, €14 million of class F-R senior secured deferrable floating-rate notes at Euribor plus 881 bps and €36.25 million of subordinated notes.
Partners Group (UK) Management will manage the collateral through the end of the reinvestment period on Nov. 9, 2028.
The notes can be called starting Nov. 9, 2025.
Merrill Lynch International was the placement agent.
The original CLO had €133 million of class A senior secured floating-rate notes at Euribor plus 210 bps, €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.
The private markets investment manager is based in London.
| Issuer: | Penta CLO 12
|
| Issue: | Floating-rate notes, floating-rate loans and subordinated notes
|
| Amount: | €410.25 million
|
| Maturity: | May 9, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | Merrill Lynch International
|
| Manager: | Partners Group (UK) Management
|
| Call feature: | Nov. 9, 2025
|
| Pricing date: | April 19
|
| Settlement date: | May 9
|
|
|
| Class A-R notes
|
| Amount: | €198 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 149 bps
|
| Price: | Par
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class A-R loans
|
| Amount: | €50 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | Euribor plus 149 bps
|
| Price: | Par
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class B-R notes
|
| Amount: | €42.9 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 220 bps
|
| Price: | Par
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class C-R notes
|
| Amount: | €23.9 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 270 bps
|
| Price: | Par
|
| Rating: | S&P: A
|
| Fitch: A
|
|
|
| Class D-R notes
|
| Amount: | €29 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 390 bps
|
| Price: | Par
|
| Rating: | S&P: BBB-
|
| Fitch: BBB-
|
|
|
| Class E-R notes
|
| Amount: | €16.2 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 709 bps
|
| Price: | 99
|
| Rating: | S&P: BB-
|
| Fitch: BB-
|
|
|
| Class F-R notes
|
| Amount: | €14 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 881 bps
|
| Price: | 94
|
| Rating: | S&P: B-
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €36.25 million
|
| Securities: | Subordinated notes
|
|
|
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