Palmer Square launches debut static CLO in Europe

Static_AdobeStock_575x375_20August20
By Tom Brown
20 Aug 2020

Palmer Square Capital Management has announced its debut CLO in Europe, mandating JP Morgan for a rare static CLO, a deal structure not commonly seen in Europe.

The deal is relatively small, at €198.7m, with a short one year non-call period. The stated maturity is 9.3 years from closing.

JP Morgan has released initial price thoughts, guiding the 4.3 year class ‘B’ in the mid-to-high 100bps. The 4.7 year class ‘C’ notes are guided in ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial