1 June 2023
Deutsche Bank Trust and Agency Services (TAS) appointed on Canyon’s debut European collateralised loan obligation (CLO)
TAS has been appointed as collateral administrator, principal paying agent, trustee, transfer agent, registrar, money market fund investment agent, information agent, paying agent and calculation agent on Canyon’s debut European CLO
The €400m CLO – named Canyon Euro CLO 2022-1 DAC – has a two-year non-call period and a four-year reinvestment period.
Canyon Partners is an active issuer of CLOs in the US CLO market, with 25 total CLO issuances to date. Via the TAS US CLO platform, Deutsche Bank has established a strong relationship with Canyon Partners. The opportunity to support this manager’s first CLO in Europe demonstrates the high quality of service that Canyon expects.
Jason Connery, Head of TAS EMEA, Deutsche Bank, said: “We are delighted to have supported this successful transaction for Canyon Partners’ entry into the European CLO market.”
About Canyon Partners, LLC
Canyon Partners, LLC is a credit-focused global alternative asset manager with US$24.1bn in AUM and over a 30-year history of generating excess returns across a broad spectrum of asset classes. Canyon Partners owns Canyon Capital Advisors (CCA), which acts as Investment Manager for several of the Firm’s strategies. Canyon CLO Advisors (CLO Advisors) is a CCA affiliate dedicated to sponsor and act as collateral manager for Canyon’s Collateralized Loan Obligations (CLO).