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Mackay Shields Euro CLO 2: 11 August 2020


This is a securitisation of mainly senior secured obligations, but the portfolio can also contain senior unsecured, mezzanine, second lien loans and high-yield bonds. The portfolio will be actively managed by Mackay Shields Europe Investment Management Limited, and will feature a one-year reinvestment period.

Portfolio Profile limits (include): secured senior loans and bonds – min 90%; non-euro obligations – max 25%; bridge loans – max 5%; participations – max 5%; revolving or delayed draw obligations – max 10%; corporate rescue loans – max 5%; cov-lite loans – max 30%; PIK securities – max 5%.