7 Jun 2022

Permira Credit announces pricing of €344.8 million CLO, Providus VII

“This pricing is testament to the strength of the Providus platform and its ability to continue to perform throughout market cycles and volatility.”
Ariadna Stefanescu - Head of Liquid Credit

07 June 2022 - Permira Credit, one of Europe’s leading alternative credit providers, today announces the pricing of PROVIDUS CLO VII (“Providus VII”), a €344.8m Collateralized Loan Obligation (“CLO”). This marks the seventh CLO from the Permira Credit CLO Management platform and continues its strong track record and growth since it was launched in 2018.

Ariadna Stefanescu, Head of Liquid Credit at Permira Credit, said: “This pricing is testament to the strength of the Providus platform and its ability to continue to perform throughout market cycles and volatility. I’m proud of the way that our liquid credit offering has developed to date, and thank our investors for their continued support as we seek to continue this growth in the years to come.”

The Providus strategy is committed to its four-pillar investment strategy focussed on a credit-led approach, active management of the portfolio, credits in resilient sectors such as tech and healthcare, and responsible investing.

Providus VII will, as with other CLOs within Permira Credit’s industry-leading CLO management strategy, contain specific ESG eligibility criteria in the documentation, which includes restrictions on the nature of industries in which the CLO can invest.

The pricing is subject to customary closing conditions. The collateral manager of Providus VII is Permira European CLO Manager LLP.

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Ariadna Stefanescu