Providus CLO V: 15 April 2021
A cash flow CLO, with Permira European CLO Manager LLP managing the transaction.
At least 90% of the portfolio must consist of Secured Senior Loans or Senior Secured Bonds and up to 10% of the portfolio may consist of Unsecured Senior Loans, Second-Lien Loans, High Yield Bonds and Mezzanine Loans, mainly to obligors domiciled in Western Europe.
It is expected to be 80% ramped as of the Closing Date, with the remainder of the portfolio to be acquired during the ramp-up period.
The transaction will feature a non-call period until 20 November 2022, and a re-investment period which ends on 19 November 2025.