July 14, 2014
International law firm Weil, Gotshal & Manges advised on its fifth collateralised loan obligation ("CLO") transaction of 2014, the €382,400,000 ALME Loan Funding II transaction which closed on 9 July. Weil represented collateral manager Apollo Management International, a new client for its London CLO team.
This transaction followed our representation of The Carlyle Group on its two European CLO deals of 2014, the €375,000,000 Carlyle Global Market Strategies Euro CLO 2014-1 and the €402,000,000 Carlyle Global Market Strategies Euro CLO 2014-2, as well as closing the €513,625,000 Holland Park CLO transaction for long-standing client Blackstone / GSO in April.
In addition, Weil recently advised arranger Bank of America Merrill Lynch on the €413,500,000 Jubilee 2014-XI CLO transaction.
Weil’s lead role on these transactions, having advised on five of only twelve European CLO transactions which have closed this year, consolidates our position as one of the main law firms dominating the European CLO market.
Jacky Kelly, head of London Structured Finance, commented:
"The first six months of the year have been busy and we are pleased to see our clients having so much success in bringing new CLO deals to market. We are currently working on a number of forthcoming transactions and expect 2014 to continue to be a strong year for European CLO issuance."
The Weil team on the Apollo transaction was led by Jacky Kelly with assistance from senior associate Brian Maher. Ashurst advised the placement agent, JP Morgan. Jacky also led the Carlyle and Blackstone / GSO teams, with assistance from senior associate Chris McGarry and associate Alex Martin respectively. The arrangers (Credit Suisse, Citi for the Carlyle deals and BNP for the Blackstone / GSO deal) were respectively advised by Ashurst and Allen & Overy.