AXA IM closes its new European CLO Adagio VIII, with €373.5 million
- 18 November 2019
AXA Investment Managers (AXA IM) today announces the close of Adagio CLO VIII (Adagio VIII), a new European Collateralised Loan Obligation (CLO).
Adagio VIII closed on 7 November 2019 with a notional value of €373.5 million. The non-call period for the structured debt is under two years, with a reinvestment period of roughly four and a half years. Adagio VIII brings AXA IM’s total CLO assets under management to approximately €5.3 billion.
Deborah Shire, Global Head of Structured Finance, commented: “Adagio CLO VIIII is a great achievement, at its pricing date the deal achieved the tightest print on the AAA notes since the start of the year. ”
“The placement is well syndicated across the whole capital structure, from AAA debt to equity, with repeat investors highlighting the trust our clients have in the platform.,” added Yannick Le Serviget, Global Head of Leveraged Loans & Private Debt at AXA IM.
Adagio VIII CLO is managed by AXA Investment Managers, Inc.
AXA IM’s Structured Finance investment team manages around EUR c. 40 billion1 in global assets across non-traditional credit. For more than 18 years, it has provided bespoke solutions and investments in alternative credit and structured finance for large investors, typically looking for stable and predictable returns. AXA IM Structured Finance originates opportunities across the alternative credit spectrum to provide clients with opportunities for sourcing, diversification and spread pick-up.
- YXMgYXQgMzAgU2VwdGVtYmVyIDIwMTk=
Disclaimer
AXA Investment Managers UK Limited is authorised and regulated by the Financial Conduct Authority. This press release is as dated. This does not constitute a Financial Promotion as defined by the Financial Conduct Authority and is for information purposes only. The content herein may not be suitable for retail clients. No financial decisions should be made on the basis of the information provided. Strategies mentioned may not be registered or available in your jurisdiction. This communication is not an offer to buy or sell any investments, products or services and should not be considered as a solicitation or as investment, legal or tax advice.
Before making an investment, investors should read the relevant Prospectus and the Key Investor Information Document, which provide full product details including investment charges and risks. The information contained herein is not a substitute for those documents or for independent advice.
Not for Retail distribution: This document is intended exclusively for Professional, Institutional, Qualified or Wholesale Clients / Investors only, as defined by applicable local laws and regulation. Circulation must be restricted accordingly.
This document is for informational purposes only and does not constitute investment research or financial analysis relating to transactions in financial instruments as per MIF Directive (2014/65/EU), nor does it constitute on the part of AXA Investment Managers or its affiliated companies an offer to buy or sell any investments, products or services, and should not be considered as solicitation or investment, legal or tax advice, a recommendation for an investment strategy or a personalized recommendation to buy or sell securities.
Risk Warning
The value of investments, and the income from them, can fall as well as rise and investors may not get back the amount originally invested.