Chicago, May 11 – Capital Four CLO Management II K/S sold €351.7 million in a collateralized loan obligation issued by Capital Four CLO V DAC, according to an offering document.
The notes will mature on April 25, 2036.
The CLO consists of €211.8 million of class A senior secured floating-rate notes at Euribor plus 184 basis points, €27.8 million of class B-1 senior secured floating-rate notes at Euribor plus 300 bps, €9 million of class B-2 6.5% senior secured fixed-rate notes, €17.5 million of class C senior secured deferrable floating-rate notes at Euribor plus 385 bps, €22.8 million of class D senior secured deferrable floating-rate notes at Euribor plus 585 bps, €15.4 million of class E senior secured deferrable floating-rate notes at Euribor plus 691 bps, €12 million of class F senior secured deferrable floating-rate notes at Euribor plus 1,100 bps and €35.4 million of subordinated notes.
Capital Four CLO Management II K/S will manage the collateral through the end of the reinvestment period on Sept. 8, 2027.
Collateral for the notes consists of senior obligations, mezzanine obligations and high-yield bonds.
The notes can be called starting March 8, 2025.
Goldman Sachs International was the placement agent.
The CLO manager is part of Copenhagen-based credit asset management firm.
| Issuer: | Capital Four CLO V DAC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | €351.7 million
|
| Maturity: | April 25, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs International
|
| Manager: | Capital Four CLO Management II K/S
|
| Call feature: | March 8, 2025
|
| Pricing date: | March 7
|
| Settlement date: | March 8
|
|
|
| Class A notes
|
| Amount: | €211.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 184 bps
|
| Price: | Par
|
| Rating: | Moody’s: Aaa
|
| S&P: AAA
|
| Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €27.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 300 bps
|
| Price: | Par
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €9 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6.5%
|
| Price: | Par
|
| Rating: | S&P: A
|
| Fitch: A
|
|
|
| Class C notes
|
| Amount: | €17.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 385 bps
|
| Price: | Par
|
| Rating: | S&P: BBB
|
| Fitch: BBB-
|
|
|
| Class D notes
|
| Amount: | €22.8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 585 bps
|
| Price: | Par
|
| Rating: | S&P: BBB
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €15.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 691 bps
|
| Price: | 92
|
| Rating: | S&P: BB-
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €12 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 1100 bps
|
| Rating: | S&P: B
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €35.4 million
|
| Securities: | Subordinated notes
|
| Price: | Par
|
|
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