Chicago, Jan. 6 – Oaktree Capital Management (Europe) LLP sold €395.45 million in a collateralized loan obligation being issued by Arbour CLO XI DAC, according to multiple press releases and a new issue report.
The notes will mature on Jan. 15, 2036.
The CLO consists of €157 million of class A senior secured floating-rate notes at Euribor plus 208 basis points, €75 million of class A floating-rate loans at Euribor plus 208 bps, €38.5 million of class B-1 senior secured floating-rate notes at Euribor plus 336 bps, €8 million of class B-2 7.% senior secured fixed-rate notes, €24 million of class C senior secured floating-rate notes at Euribor plus 432 bps, €26.7 million of class D senior secured deferrable floating-rate notes at Euribor plus 564 bps, €17.6 million of class E senior secured deferrable floating-rate notes at Euribor plus 794 bps, €8.4 million of class F senior secured deferrable floating-rate notes at Euribor plus 1062 bps, €250,000 of class M notes at Euribor plus bps and €40 million of subordinated notes.
Oaktree Capital Management (Europe) LLP will manage the collateral through the end of the reinvestment period on Jan. 15, 2026.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans and bonds .
The notes can be called starting May 29, 2024.
The London-based asset manager is an affiliate of Los Angeles-based Oaktree Capital Management, LP.
| Issuer: | Arbour CLO XI DAC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | €395.45 million
|
| Maturity: | Jan. 15, 2036
|
| Structure: | Cash flow CLO
|
| Manager: | Oaktree Capital Management (Europe) LLP
|
| Call feature: | May 29, 2024
|
| Settlement date: | Nov. 29
|
|
|
| Class A notes
|
| Amount: | €157 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 208 bps
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class A loans
|
| Amount: | €75 million
|
| Securities: | Floating-rate loans
|
| Coupon: | Euribor plus 208 bps
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €38.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 336 bps
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €8 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 7.%
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €24 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 432 bps
|
| Rating: | S&P: A
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €26.7 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 564 bps
|
| Rating: | S&P: BBB-
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €17.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 794 bps
|
| Rating: | S&P: BB-
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €8.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 1062 bps
|
| Rating: | S&P: B-
|
| Fitch: B-
|
|
|
| Class M notes
|
| Amount: | €250,000
|
| Securities: | Class M notes
|
|
|
|
|
| Subordinated notes
|
| Amount: | €40 million
|
| Securities: | Subordinated notes
|
|
|
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