LONDON, 4 April 2019 – Spire Partners (“Spire”) announced the successful closing of its fifth European collateralised loan obligation (“CLO”), Aurium CLO V, today. The €447.8 million CLO, was arranged by Bank of America Merrill Lynch (“BAML”), and the notes are listed on the Irish Stock Exchange (Euronext Dublin). The collateral manager is Spire Management Limited.
Aurium CLO V Designated Activity Company predominantly invests in senior secured, broadly syndicated non-investment grade credit, supporting corporates headquartered, or with significant operations, in Europe. The vehicle has the ability to invest in inter alia leverage loans, floating rate notes and fixed rate high yield bonds. Spire was advised by Sidley Austin, and BAML was advised by Allen & Overy.
Oliver Drummond Smith, Partner and one of Spire’s Portfolio Managers said: “We are delighted to announce the successful closing of our fifth CLO. We are grateful to our investors for their continued support. The fundraising sees our European CLO platform total €2.0 billion AuM.”
Spire’s most recent CLO, Aurium CLO IV, was raised in April 2018. It has subsequently been awarded GlobalCapital’s European CLO of the Year 2018, and shortlisted for Best New European CLO 2018 at the forthcoming Creditflux Manager Awards.