CLO Documentation can seem daunting at first, but every document exists for a reason. In our latest CLO Insights Series, produced in association with Weil, Gotshal & Manges (London) LLP, we walk through the full suite of documents that govern a CLO: what they contain, how they fit together, and why they matter to investors.
In this article, we cover:
- The Offering Circular: Including the Pink, Red, and Black drafts, what each contains, and how the document evolves from launch to listing on Euronext Dublin
- Warehouse documents: The Warehouse Deed, Master Administration and Agency Agreement, Deed of Charge and Assignment, and Conditional Forward Purchase Agreement
- The Collateral Management Agreement: Setting out the full scope of the Collateral Manager’s obligations
- The Trust Deed: Protecting noteholder rights and granting security over CLO assets
- The Agency Agreement and Risk Retention Letter: What the 5% EU/UK retention requirement means in practice
We also explain Pemberton’s approach: unlike many CLO managers, we use a standardised suite of documents across our vehicles. The result is greater clarity for investors, a more manageable process for the Collateral Manager, and meaningful cost savings in preparation and negotiation.
Download A Guide to CLO Documentation
For further information or if you have a specific query,
please get in touch.
