M&G prices second Margay CLO
M&G Investments has priced its second collateralised loan obligation (CLO) from the Margay platform.
The €405.4m (£347.3m) deal was arranged by BNP Paribas and brings M&G’s corporate loan platform assets under management to around €9bn.
The first Margay CLO was issued last year, consisting of mainly senior secured loans, with a component of corporate rescue loans, senior unsecured, mezzanine, second-lien loans and high-yield bonds.
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“The ESG considerations that form part of the strategy underscore the forward momentum being made by PE-owned, large-cap private corporates,” said Fiona Hagdrup, head of leveraged finance fund management, private credit, in a post from M&G on LinkedIn.
“M&G Catalyst has been a forceful partner in the deal, as have other, important institutional clients, using the CLO construct to enhance engagement potential.”
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M&G Catalyst is a global investment team created by the firm in 2021, to provide funding to innovative, privately-owned global businesses hat might otherwise struggle to access capital.
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