AIB Acquisition Finance, a division of AIB Capital Markets has closed a €407 million collateralised debt obligation (CDO) Galway Bay BV. This is AIB’s third CDO, following on from Clare Island BV in 2002 and Tara Hill, a €447 million CDO, in 2001, and a €364 million CDO positions AIB as one of the top collateral managers in Europe, having issued over €1.2 billion in CDOs in the past number of years.
Galway Bay BV will invest in leveraged loans to a pool of middle to large sized private equity backed European borrowers across a diversified range of industries. AIB and Galway Bay will typically co-invest in leveraged buy-out (LBO) opportunities as they arise, based on decisions made by AIB’s team.
AIB has up to 18 months to ramp up the portfolio from around €240 million to €400 million, and there is a reinvestment period of five years.
AIB Acquisition Finance is one of the largest players in the European LBO market, having arranged over €8.5 billion of senior and mezzanine debt over the past 13 years. It has offices in Dublin, London and Frankfurt. |
