Chicago, Nov. 28 – Partners Group (UK) Management Ltd. sold €350.43 million of notes and loans in a collateralized loan obligation being issued by Penta CLO 15 DAC, according to a presale report.
The notes will mature on Jan. 15, 2037.
The CLO consists of €217 million of class A senior secured floating-rate notes at Euribor plus 170 basis points, €0 million of class A senior secured floating-rate loans at Euribor plus 170 bps, €34.5 million of class B senior secured floating-rate notes at Euribor plus 245 bps, €20.7 million of class C senior secured deferrable floating-rate notes at Euribor plus 330 bps, €23 million of class D senior secured deferrable floating-rate notes at Euribor plus 570 bps, €15.4 million of class E senior secured deferrable floating-rate notes at Euribor plus 805 bps, €13.1 million of class F senior secured deferrable floating-rate notes at Euribor plus 908 bps and €26.73 million of subordinated notes.
Partners Group (UK) Management Ltd. will manage the collateral through the end of the reinvestment period on July 15, 2028.
Collateral for the notes consists of syndicated speculative-grade senior secured term loans and bonds.
The notes can be called starting June 20, 2025.
Morgan Stanley & Co. International plc was the placement agent.
The private markets investment manager is based in London.
| Issuer: | Penta CLO 15 DAC
|
| Issue: | Floating-rate notes, floating-rate loans and subordinated notes
|
| Amount: | €350.43 million
|
| Maturity: | Jan. 15, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. International plc
|
| Manager: | Partners Group (UK) Management Ltd.
|
| Call feature: | June 20, 2025
|
| Pricing date: | Nov. 21
|
| Settlement date: | Dec. 20
|
|
|
| Class A notes
|
| Amount: | €217 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 170 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A loans
|
| Amount: | €0 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | Euribor plus 170 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | €34.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 245 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | €20.7 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 330 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | €23 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 570 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | €15.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 805 bps
|
| Rating: | S&P: BB-
|
|
|
| Class F notes
|
| Amount: | €13.1 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 908 bps
|
| Rating: | S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | €26.73 million
|
| Securities: | Subordinated notes
|
|
|
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