{"id":65964,"date":"2017-09-27T00:20:35","date_gmt":"2017-09-26T22:20:35","guid":{"rendered":"http:\/\/beta.next-finance.net\/news\/bnp-paribas-asset-management-announces-successful-close-of-bnpp-am-clo-2017\/"},"modified":"2019-12-31T02:11:07","modified_gmt":"2019-12-31T01:11:07","slug":"bnp-paribas-asset-management-announces-successful-close-of-bnpp-am-clo-2017","status":"publish","type":"post","link":"http:\/\/beta.next-finance.net\/en\/news\/bnp-paribas-asset-management-announces-successful-close-of-bnpp-am-clo-2017\/","title":{"rendered":"BNP Paribas Asset Management announces successful close of BNPP AM CLO 2017"},"content":{"rendered":"

BNP Paribas Asset Management (\u2018BNPP AM\u2019) announces the close of BNPP AM Euro CLO 2017 B.V., a
\nEUR 361 million securitisation vehicle that invests in a diversified portfolio of syndicated leveraged
\nloans to European corporates. This is BNPP AM\u2019s fourth new generation CLO (Collateralised Loan
\nObligation), two in Europe and two in the US, confirming its position as a major player in the loans and
\nCLO markets.<\/strong> <\/em><\/p>\n

BNPP AM CLO 2017 B.V. portfolio consists of a minimum of 95% of secured senior loans, with the balance
\nmade up of unsecured loans, second-lien loans, and mezzanine loans. Six classes of notes issued by BNPP
\nAM Euro CLO 2017 are rated by Moody\u2019s and Fitch Ratings and have varying rating levels, enabling
\ninvestors to invest according to their risk\/return objectives.<\/p>\n

The deal was structured and syndicated by BNP Paribas Corporate and Institutional Banking. All tranches
\nof the CLO were successfully placed with a range of institutional investors from Europe and Asia. Part of
\nthe issue was retained by BNPP AM, including the regulatory vertical risk retention in line with the EU\u2019s
\nCapital Requirements Regulation.<\/p>\n

This new CLO is managed by BNPP AM\u2019s Global Loans team, headed by Vanessa Ritter, which comprises
\n20 dedicated experts in New York and Paris. It specialises in investing in leveraged loan financing,
\nthrough managed accounts and CLOs. It is also a market leader in middle market corporate financing in
\nEurope, having launched the Novo fund in 2013.<\/p>\n

The Global Loans team is part of the Private Debt & Real Assets investment group that was created last
\nJune and also includes Small and Medium-sized Enterprises\u2019 lending, structured finance, real estate debt
\nand infrastructure debt, as well as the SME direct lending platform. BNPP AM\u2019s Private Debt & Real
\nAssets investment group consists of around 50 investment professionals.<\/p>\n

David Bouchoucha, Head of Private Debt & Real Assets at BNP Paribas Asset Management, comments:
\n\u201cThe successful closing of BNPP AM Euro CLO 2017 confirms BNP Paribas Asset Management\u2019s leading
\nrole within leveraged loans and its intention to be a repeat issuer of CLOs. This is in line with our overall
\nstrategy to provide clients with a broad range of private debt solutions and to adapt to their needs\u201d<\/em>.<\/p>\n

Ratings assigned to notes issued by BNPP AM EURO CLO 2017 B.V.<\/strong>
\n\"ratings_assigned_to_notes_issued_by_bnpp_am_euro_clo_2017_b.v.jpg\"<\/a>