AlbaCore Euro CLO V DAC: 01 June 2023
AlbaCore is an independent European credit firm with a hybrid strategy specialising in creative private solutions and opportunistic credit for mid-to-large cap performing companies.
Official Press Release
LONDON, 18 April 2023 - European credit specialist AlbaCore Capital Group is pleased to announce the successful pricing of AlbaCore Euro CLO V, its fifth Collateralized Loan Obligation at €347.6 million. AlbaCore Euro CLO V increases AlbaCore’s total value of CLO issuance to date from €1.9 billion to ~€2.3 billion. In line with AlbaCore’s previous CLOs, AlbaCore Euro CLO V incorporates negative ESG screening criteria that is combined with AlbaCore’s fundamental research and risk focused ESG considerations, including restrictions on the industry type in which the CLO can invest.
Solely arranged by Merrill Lynch International and placed by Merrill Lynch International and NatWest Markets Plc as Co-Placement Agents, AlbaCore Euro CLO V priced on 14th April 2023 with closing expected on 26th May 2023 and is subject to customary closing conditions. The collateral manager of AlbaCore Euro CLO V is AlbaCore Capital LLP.
Deborah Cohen Malka, Partner and Portfolio Manager at AlbaCore Capital Group, remarked: "We are delighted to have priced our fifth CLO, further demonstrating the success of our past offerings and the excellent rapport we have built with both existing and new investors. Despite the continuous market fluctuations and the challenging economic environment marked by high inflation and increasing interest rates, AlbaCore has proven its ability to price, which attests to the strength of our CLO management platform".