Invesco Euro CLO I DAC: 02 January 2019
This will be collateral manager’s Invesco Senior Secured Management first European managed cash flow CLO since the financial crisis. Invesco will manage the CLO and will also direct the selection, acquisition and disposition of collateral on behalf of the Issuer and will engage in trading activity.
Highlights: At least 90% of the portfolio must consist of senior secured obligations; up to 10% of the portfolio may consist of unsecured senior loans, second-lien loans, mezzanine obligations and high yield bonds.
The portfolio is expected to be 80% ramped up as of the closing date and comprises predominantly corporate loans to obligors domiciled in Western Europe. The remainder of the portfolio will be acquired during the ramp-up period. The transaction will feature a four-year reinvestment period.