3i raises €414m CLO for European buyouts

The vehicle has a legal maturity set at November 2029, with a four-year investment period and a non-call period of two years.

More than half of the capital structure will be dedicated to AAA credits, including €139m priced at Euribor + 1.40% and €100m at Euribor + 1.45%. Slightly less than €37m will consist of sub-investment-grade credits, priced between Euribor + 5.50-6.30%, while €43.4m will go towards unrated credits.

3i has been particularly active on the debt front in 2015, raising no less than five CLOs, in addition to launching an open-ended floating-rate income fund via its debt management arm.

Overall, the firm raised around $2.7bn through the five CLOs, pushing the debt management arm's assets under management to $11.3bn.

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• Topics
• UK / Ireland
• Financing
• DACH
• France
• Benelux
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• Southern Europe
• 3i
• Senior debt