Successful closing North Westerly CLO IV of EUR 300 millionCorporate News -
NIBC is pleased to announce the successful closing of North Westerly CLO IV, a EUR 300 million leveraged loan CLO. The rated and unrated notes were sold to a compact group of asset managers, pension funds and insurance companies. NIBC itself retains a stake in the unrated tranche of the CLO. The CLO has a 12 year maturity, 3 year non-call period and 4 year reinvestment period.
NIBC acted as co-arranger of the CLO, alongside Royal Bank of Scotland. NIBC also had a prominent role in the distribution of the CLO notes to investors.
NW4 represents a continuation of NIBC’s established and successful North Westerly CLO franchise, on top of its existing three CLOs.