J.P. Morgan prices €504M static Palmer Square European Loan Funding 2022-1 CLO

J.P. Morgan has priced the €503.7 million Palmer Square European Loan Funding 2022-1 static CLO for Palmer Square.

Details are as follows:

The deal, which is expected to close on March 16, has a non-call period ending on March 16, 2023. The legal final maturity is Oct. 15, 2031.

The manager as originator is expected to retain a vertical strip to comply with E.U./U.K. risk retention requirements.

Palmer Square priced a total of five new issue European CLOs in 2021, split between three reinvestment vehicles and two static transactions.