Key Takeaways
- • Orrick advised BNP Paribas on the closing of Golub Capital Partners Euro CLO 89(M), a €351.8 million dual-currency collateralized loan obligation transaction for Golub Capital.
- • The deal marks Golub Capital's first mid-market and private credit CLO in Europe, extending the U.S. private credit manager's presence into a market the source describes as nascent.
- • The transaction follows the first public mid-market and private credit CLO issuances in Europe, on which Orrick also advised, signaling continued growth in the segment.
- • Orrick's Dan Tobias and David Quirolo led the advisory team for BNP Paribas, supported by Marcus Lee and David Tan.
Summary
Orrick has advised BNP Paribas on the closing of Golub Capital Partners Euro CLO 89(M), a €351.8 million dual-currency collateralized loan obligation (CLO) transaction for Golub Capital, according to the law firm's announcement. The deal is notable because it marks Golub Capital's first mid-market and private credit CLO in Europe. Golub Capital is a leading U.S. private credit manager, and its entry into the European mid-market and private credit CLO market is presented by Orrick as a significant milestone for a segment that is still developing.
The transaction follows the first public mid-market and private credit CLO issuances in Europe, which Orrick also advised on. According to the firm, the deal reflects the continued growth of the European market for these structures, as sponsors increasingly access European investors through CLO issuance backed by middle-market and private credit loans.
Orrick's Dan Tobias and David Quirolo led the team advising BNP Paribas, with support from Marcus Lee and David Tan. The announcement is a law firm deal-advisory notice and does not disclose pricing, tranche structure, or investor details.
The transaction follows the first public mid-market and private credit CLO issuances in Europe, which Orrick also advised on. According to the firm, the deal reflects the continued growth of the European market for these structures, as sponsors increasingly access European investors through CLO issuance backed by middle-market and private credit loans.
Orrick's Dan Tobias and David Quirolo led the team advising BNP Paribas, with support from Marcus Lee and David Tan. The announcement is a law firm deal-advisory notice and does not disclose pricing, tranche structure, or investor details.
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