Chicago, Feb. 15 – Nassau Corporate Credit (UK) LLP sold €413.7 million in a collateralized loan obligation being issued by Nassau Euro CLO II DAC, according to multiple press releases.
The notes will mature on April 25, 2036.
The CLO consists of €248 million of class A senior secured floating-rate notes at Euribor plus 220 basis points, €33.8 million of class B-1 senior secured floating-rate notes at Euribor plus 368 bps, €5 million of class B-2 6.4% senior secured fixed-rate notes, €17.5 million of class C senior secured deferrable floating-rate notes at Euribor plus 468 bps, €22.2 million of class D senior secured deferrable floating-rate notes at Euribor plus 640 bps, €22.6 million of class E senior secured deferrable floating-rate notes at Euribor plus 795 bps, €9 million of class F senior secured deferrable floating-rate notes at Euribor plus 1,000 bps and €55.6 million of subordinated notes.
Nassau Corporate Credit (UK) LLP will manage the collateral through the end of the reinvestment period on Feb. 9, 2025.
Collateral for the notes consists of senior secured obligations.
The notes can be called starting Feb. 10, 2025.
Jefferies International Ltd. was the placement agent.
Based in the United Kingdom, Nassau Corporate Credit is an asset manager.
| Issuer: | Nassau Euro CLO II DAC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | €413.7 million
|
| Maturity: | April 25, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies International Ltd.
|
| Manager: | Nassau Corporate Credit (UK) LLP
|
| Call feature: | Feb. 10, 2025
|
| Settlement date: | Feb. 9
|
|
|
| Class A notes
|
| Amount: | €248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 220 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €33.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 368 bps
|
| Rating: | Moody's: Aa2
|
| Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €5 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6.4%
|
| Rating: | Moody's: Aa2
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €17.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 468 bps
|
| Rating: | Moody's: A2
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €22.2 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 640 bps
|
| Rating: | Moody's: Baa3
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €22.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 795 bps
|
| Rating: | Moody's: Ba3
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €9 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 1000 bps
|
| Rating: | Moody's: B3
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €55.6 million
|
| Securities: | Subordinated notes
|
|
|
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