Permira plans to step up ESG approach in next Providus CLO

By Owen Sanderson
07 Oct 2020

Permira Debt Managers is looking at a new, enhanced ESG approach for its next Providus CLO, going beyond the negative screening seen so far in the market and committing to a minimum ESG score across the portfolio.

The new issue will likely have a “maintain or improve” commitment built in to deal documentation, saying that if the CLO is not meeting its minimum ESG score level, subsequent actions by the manager, such as trading out of assets, cannot lower it further.

Investors in the CLO ...

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