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As of 31 December 2009
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Assets Under Management
€500 million
Closing Date
14 December 2006
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Overview
Duchess VII closed in December 2006. 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 30% GBP bucket, flexibly funded through a multi-currency revolver. Duchess VII's target asset mix is as follows: - Senior secured loans - minimum of 80%
- Mezzanine loans - maximum of 20%
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Portfolio Characteristics
| Duchess VII CLO B.V. |
| Capital Structure |
Original Rating |
Spread |
Original Balance |
| Class A-1 |
Aaa/AAA |
Euribor +22bps |
€ 190,000,000 |
| Multi-Currency Revolver |
Aaa/AAA |
Euribor +28bps |
€ 150,000,000 |
| Class B |
Aa2/AA |
Euribor +35bps |
€ 35,000,000 |
| Class C |
A2/A |
Euribor +55bps |
€ 25,000,000 |
| Class D |
Baa3/BBB- |
Euribor +135bps |
€ 32,500,000 |
| Class E |
Ba3/BB- |
Euribor +335bps |
€ 15,000,000 |
| Class F - Secured Income Notes |
NR/NR |
- |
€ 52,500,000 |
| Total |
- |
- |
€ 500,000,000 |
Table represents the fund's original capital structure, balance, and tranche ratings.
Ratings: Moody's/Standard & Poor's