Cairn Capital prices new European leveraged loan CLO

Arranging bank Credit Suisse priced the four debt tranches in Cairn Capital’s new leveraged loan CLO late on Tuesday more or less in line with revised guidance. The deal created a wealth of investor interest, but CLO specialists say the twin obstacles of regulation and lack of collateral are still a drag on an immediate market revival.

  • 20 Feb 2013

The €181.5m ‘A’ tranche was priced at 140bp over six month Euribor, the €28m Aa2 rated ‘B’ tranche was priced at 235bp over, the €20m A2 rated ‘C’ tranche was priced at 325bp over and the €11m Baa2 rated ‘D’ tranche was priced at 425bp over.

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