BNP Paribas prices €338M refinancing of BNPP AM Euro CLO 2019

BNP Paribas has priced the €338.4 million refinancing of BNPP AM Euro CLO 2019 for BNP Paribas Asset Management.

Details are as follows:

The deal, which is expected to close on Nov. 17, has a non-call period that has been extended to Feb. 17, 2023, and a reinvestment period that is unchanged, ending on Jan. 22, 2024. The weighted average life test has been extended by 12 months, while the legal final maturity remains July 22, 2032.

The original €407.5 million vehicle priced in July 2019, via BNP Paribas. Prior to the refinancing, the class A, B-1, B-2, C and D notes paid coupons of 110 basis points, 180 bps, 2.40%, 240 bps and 385 bps, respectively.