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Natixis Pacific Asset Management CLO Press Release
Continues strong track record in the US CLO space
Natixis Securities Americas LLC today announced the closing of a USD$505 million broadly syndicated collateralized loan obligation (“CLO”) for Pacific Asset Management, a wholly-owned subsidiary of Pacific Life Insurance Company. This marks Pacific Asset Management’s first-ever CLO, which was upsized following strong demand from investors.
“We are delighted to have facilitated Pacific Asset Management’s entry into the CLO space and look forward to our continued partnership,” said Kevin Alexander, Head of Global Markets and Investment Banking Americas. “This transaction further illustrates Natixis’ strong track record of servicing the US CLO market.”
The CLO’s collateral obligations consist of primarily senior secured first lien loans. Natixis Securities Americas LLC acted as sole and exclusive lead arranger, bookrunner and placement agent for the CLO.
“We are excited about the launch of our inaugural CLO. It is a natural extension of the team’s strength and expertise in managing bank loans,” said Dominic Nolan, Senior Managing Director, Pacific Asset Management. “We are pleased with the strong reception to our debut transaction and the support of our trusted partner, Natixis.”
Pacific Asset Management, founded in 2007, is a direct subsidiary of Pacific Life Insurance Company. Pacific Asset Management specializes in credit investments and manages approximately $7 billion as of June 30, 2017
Natixis Pacific Asset Management CLO Press Release
July 27, 2017
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About Natixis
Natixis is a French multinational financial services firm specialized in asset & wealth management, corporate & investment banking, insurance and payments. A subsidiary of Groupe BPCE, the second-largest banking group in France through its two retail banking networks, Banque Populaire and Caisse d’Epargne, Natixis counts nearly 16,000 employees across 38 countries. Its clients include corporations, financial institutions, sovereign and supranational organizations, as well as the customers of Groupe BPCE’s networks. Listed on the Paris stock exchange, Natixis has a solid financial base with a CET1 capital under Basel 3(1) of €11.1 billion, a Basel 3 CET1 Ratio(1) of 11.5% and quality long-term ratings (Standard & Poor’s: A+ / Moody’s: A1 / Fitch Ratings: A+).
(1) Based on CRR-CRD4 rules as reported on June 26, 2013, including the Danish compromise - without phase-in. See note on methodology in the 2Q19 earnings material.
Figures as at 30 June 2019