Chicago, Aug. 11 – Investcorp Credit Management EU Ltd. priced €409.46 million of notes in a collateralized loan obligation being issued by Bridgepoint CLO V DAC, according to a presale report.
The notes will mature on April 15, 2036.
The CLO consists of €248 million of class A floating-rate notes at Euribor plus 180 basis points, €27.3 million of class B-1 floating-rate notes at Euribor plus 260 bps, €10 million of class B-2 floating-rate notes at Euribor plus bps, €25 million of class C floating-rate notes at Euribor plus 355 bps, €27.2 million of class D floating-rate notes at Euribor plus 500 bps, €19 million of class E floating-rate notes at Euribor plus 722 bps, €14 million of class F floating-rate notes at Euribor plus 1,000 bps and €38.96 million of subordinated notes.
Investcorp Credit Management EU Ltd. will manage the collateral through the end of the reinvestment period on April 15, 2028.
Collateral for the notes consists of syndicated speculative-grade senior secured term loans and bonds.
The notes can be called starting March 27, 2025.
Morgan Stanley & Co. International plc was the placement agent.
The asset manager is based in London.
| Issuer: | Bridgepoint CLO V DAC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | €409.46 million
|
| Maturity: | April 15, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. International plc
|
| Manager: | Investcorp Credit Management EU Ltd.
|
| Call feature: | March 27, 2025
|
| Pricing date: | Aug. 9
|
| Settlement date: | Sept. 27
|
|
|
| Class A notes
|
| Amount: | €248 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 180 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €27.3 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 260 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | €10 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | €25 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 355 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | €27.2 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 500 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | €19 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 722 bps
|
| Rating: | S&P: BB-
|
|
|
| Class F notes
|
| Amount: | €14 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 1000 bps
|
| Rating: | S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | €38.96 million
|
| Securities: | Subordinated notes
|
|
|
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