Chicago, June 1 – Permira European CLO Manager LLP sold €398 million in a collateralized loan obligation being issued by Providus CLO VIII DAC, according to press releases.
The notes will mature on May 20, 2037.
The CLO consists of €241.9 million of class A senior secured floating-rate notes at Euribor plus 175 basis points, €36 million of class B senior secured floating-rate notes at Euribor plus 185 bps, €29.7 million of class C senior secured deferrable floating-rate notes at Euribor plus 360 bps, €20.5 million of class D-1 senior secured deferrable floating-rate notes at Euribor plus 519 bps, €6 million of class D-2 senior secured deferrable floating-rate notes at Euribor plus 616 bps, €19.7 million of class E senior secured deferrable floating-rate notes at Euribor plus 769 bps, €15.4 million of class F senior secured deferrable floating-rate notes at Euribor plus 936 bps and €28.8 million of subordinated notes.
Permira European CLO Manager LLP will manage the collateral through the end of the 4.6-year reinvestment period.
Collateral for the notes consists of senior secured obligations.
The structured credit firm is based in London.
| Issuer: | Providus CLO VIII DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €398 million
|
| Maturity: | May 20, 2037
|
| Structure: | Cash flow CLO
|
| Manager: | Permira European CLO Manager LLP
|
| Settlement date: | April 25
|
|
|
| Class A notes
|
| Amount: | €241.9 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 175 bps
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | €36 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 185 bps
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €29.7 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 360 bps
|
| Rating: | S&P: A
|
| Fitch: A
|
|
|
| Class D-1 notes
|
| Amount: | €20.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 519 bps
|
| Rating: | S&P: BBB+
|
| Fitch: BBB
|
|
|
| Class D-2 notes
|
| Amount: | €6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 616 bps
|
| Rating: | S&P: BBB
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €19.7 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 769 bps
|
| Rating: | S&P: BB-
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €15.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 936 bps
|
| Rating: | S&P: B-
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €28.8 million
|
| Securities: | Subordinated notes
|
|
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