Permira Debt Managers announces pricing of €410 million CLO, Providus V

18 February 2021

Permira Debt Managers announced today the pricing of PROVIDUS CLO V (“Providus V”), a €410m Collateralized Loan Obligation (“CLO”). The pricing sets a new pandemic-era benchmark low for triple-A spreads at 80bps. This marks the fifth CLO since PDM re-launched its CLO management platform in 2018.

In line with Permira Debt Managers’ previous CLOs, Providus V contains specific ESG eligibility criteria in the documentation, which includes restrictions on the nature of industries in which the CLO can invest.

Ariadna Stefanescu, Partner and Portfolio Manager at PDM, said:
“Our continued ability to perform throughout cycles is testament to the strength of our team and strategy. I’m also delighted that our latest deal sets a new benchmark for the post-pandemic era. From breaking ground in the market in April last year to this pricing, we have seen continued demand from our investors and look forward to continuing to deliver for them.”

The pricing is subject to customary closing conditions. The collateral manager of Providus V is Permira European CLO Manager LLP.

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