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23 January 2019

Spire Partners Closes Its Fourth European CLO

LONDON, 26 April 2018 – Spire Partners (“Spire”) announced the successful closing of its fourth European collateralised loan obligation (“CLO”), Aurium CLO IV, today.  The €407.6 million CLO, was arranged by Citi, and the notes are listed on the Irish Stock Exchange.  The collateral manager is Spire Management Limited.

Aurium CLO IV 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 Citi 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 fourth CLO.  We are grateful to our investors for their continued support.  The fundraising sees our European CLO platform total approximately €1.5 billion AuM.”

Spire’s most recent CLO, Aurium CLO III, was raised in May 2017, and had the tightest AAA pricing of an European CLO priced so far that year.  It has subsequently been awarded GlobalCapital’s European Deal of the Year 2017, and shortlisted for Best New European CLO 2017 at the forthcoming Creditflux Manager Awards.