LGT Capital Partners has priced a €454.05m (£392.7m) collateralised loan obligation (CLO).
The CLO, named Legato Euro CLO III, was arranged by Deutsche Bank, with Glyde Sec acting as the retention holder.
The transaction features a multi-tranche structure ranging from AAA-rated Class A notes (€154m) to B-rated Class F notes (€13.5m), alongside unrated subordinated notes totalling €33.3m.
According to an update from Deutsche Bank, the CLO’s reinvestment period runs until 8 November 2030.
Headquartered in Pfaeffikon, Switzerland, LGT Capital Partners is an alternatives firm with $110bn (£822.3bn) of assets under management across private markets strategies.
The pricing comes amid rising investor appetite for European CLOs, particularly for higher-rated tranches.
A number of asset managers, including Pemberton, have recently strengthened their European CLO platforms, while others such as Golub Capital and Park Square Capital have recently entered the European CLO market.
