Barings is executing the first European middle market private credit CLO, Barings Euro Middle Market CLO 2024-1 DAC, at €380m, with S&P and Fitch rating the issuance, which is backed by a portfolio of European middle market senior secured loans.
Year to date Barings has priced 12 new issue CLOs globally.
Barings Euro Middle Market CLO, a diversified EU private credit CLO, is the first of its kind in the market and is a combined effort of Barings’ Global CLO team and Barings’ Global Private Finance Group.
Barings’ $52 billion Global CLO team is one of the largest and longest tenured in the industry with more than 25 years of experience originating, managing, and investing in CLOs. Barings’ Global Private Finance team, meanwhile, has a track record of over 30 years as a leader in the private credit market. Both teams selected the initial assets and will be managing the portfolio.
Barings Euro Middle Market CLO is a static deal with a one-year non-call period. BNP Paribas served as the arranger, while Dechert advised Barings.
