Aurium CLO V: 09 April 2019

As per the earlier Aurium CLOs, this is a cash flow collateralised loan obligation where the net proceeds from the issuance of the Notes will be used to purchase a portfolio of mostly European leveraged loans and bonds. The collateral manager will be Spire Management Limited.

Portfolio criteria (includes): a minimum of 90% in senior secured obligations; a minimum of 70% in secured senior loans; a max of 10% in unsecured senior obligations, second-lien loans, mezzanine obligations and high-yield bonds; a max of 5% in participations; a max of 2.5% in PIKs and partial deferrable securities; a max of 30% in cov-lite loans; a max of 20% in non-euro obligations; a max of 3% in bridge loans.

It is envisaged the transaction will have a 4.5-year reinvestment period and a WA life of 8.5 years