Aurium CLO VI: 05 July 2020

The transaction is a European cash flow CLO securitisation of a revolving pool comprising euro-denominated senior secured loans and bonds issued mainly by speculative-grade borrowers, and will be managed by Spire Management Ltd.

Portfolio limits/concentrations (include): a minimum of 90% of senior secured loans and/or senior secured bonds; a maximum of 22.5% of obligations issued by top 10 obligors; a maximum of 20% of hedged non-euro obligations; a maximum of 7.5% of assets rated ‘CCC’ or lower by Fitch; a maximum of 30% of cov-lite loans; a maximum of 2.5% of PIK securities.

The transaction has a 2.9-year reinvestment period.