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As of 31 December 2009
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Assets Under Management
€500 million
Closing Date
10 May 2007
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Overview
Malin closed in May 2007. The fund is predominantly invested in the European senior secured loan market with small investments made in European mezzanine loans. The transaction has up to a 20% GBP bucket, flexibly funded through a multi-currency variable funding note. Malin's target asset mix is as follows:
- Senior secured loans – minimum of 80%
- Mezzanine loans – maximum of 20%
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Portfolio Characteristics
| Malin CLO B.V. |
| Capital Structure |
Original Rating |
Spread |
Original Balance |
| Class A-1a |
Aaa/AAA |
Euribor +19.5bps |
€ 188,000,000 |
| Class A-1b |
Aaa/AAA |
Euribor +27bps |
€ 47,000,000 |
| Variable Funding Note |
Aaa/AAA |
Euribor +27bps |
€100,000,000 |
| Class B |
Aa2/AA |
Euribor +37bps |
€ 32,500,000 |
| Class C |
A2/A |
Euribor +57bps |
€ 25,000,000 |
| Class D |
Baa3/BBB- |
Euribor +135bps |
€ 35,000,000 |
| Class E |
Ba3/BB- |
Euribor +340bps |
€ 18,750,000 |
| Class F – Secured Income Notes |
NR/NR |
- |
€ 53,750,000 |
| Total |
- |
- |
€ 500,000,000 |
Table represents the fund's original capital structure, balance, and tranche ratings.
Ratings: Moody's/Standard & Poor's