Ashurst has advised PineBridge, a leading global multi-asset class investment manager, on a European CLO (Euro-Galaxy IV), its second CLO 2.0 transaction. The deal is being co-managed with Crédit Industriel et Commercial SA. For the purposes of risk retention, both co-managers will hold retention in equal shares. The deal features a two year non-call period, a four year reinvestment period and a thirteen year final maturity as well as EUR 66 million of delayed draw notes which will consolidate with the Class A-1 Notes. The notes are rated by Moody's and S&P.

The Ashurst team was led  by structured finance partner Michael Smith, assisted by counsel Cameron Saylor and associate Dasha Sobornova.