May 2024
Deutsche Bank Trust and Agency Services (TAS) appointed on Bain Capital Euro CLO 2024-1 DAC
TAS has been appointed as agent, collateral administrator and trustee on Bain Capital Credit’s first new European collateralised loan obligation (CLO) issuance of 2024
The €400.3m CLO, named Bain Capital Euro CLO 2024-1 DAC comprises eight classes of senior secured notes totalling €374m and subordinated notes totalling €26.3m, all due in 2038. The proceeds will be used to invest in leveraged loans with a High Yield (HY) Bond bucket.
In 2023, TAS also completed the closing of Bain Capital Credit CLO 2023-2 Limited, a US CLO comprising nine classes of floating and fixed notes totalling US$499.6m, all due in 2036.
Jason Connery, Head of Trust & Agency Services EMEA and Regional Head of Corporate Bank UK and Ireland at Deutsche Bank, said: “We are excited to have established a global relationship with Bain Capital which demonstrates our capabilities to deliver a consistent global offering for our clients. We look forward to growing our partnership with Bain in the coming years.”
About Bain Capital Credit
Bain Capital Credit is a leading global credit specialist with approximately US$47bn in assets under management. Bain Capital Credit invests across the credit spectrum and in credit-related strategies, including leveraged loans, high-yield bonds, structured products, private middle market loans and bespoke capital solutions. The team comprises more than 100 investment professionals that create value through rigorous, independent analysis of thousands of corporate issuers around the world. Bain Capital Credit's dedicated Private Credit Group focuses on providing complete financing solutions to businesses with EBITDA between US$10m and US$150m located in North America, Europe and Asia Pacific. In addition to credit, Bain Capital invests across asset classes including private equity, public equity, venture capital and real estate, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.