Orrick Advises Goldman Sachs on Pricing of Sona’s €400m+ Market-First Hybrid European CLO

Orrick has advised Goldman Sachs on the pricing of Sona Aclai CLO I, a €403.9 million dual-currency transaction for Sona Asset Management.

The transaction is the first public European CLO designed to combine private credit and broadly syndicated loans, providing the portfolio manager with flexibility to invest across both asset classes.

Following the first issuances of public mid-market and private credit CLOs in Europe (on which Orrick also advised), the deal highlights the continued evolution of the European CLO market.

Orrick's Dan Tobias and David Quirolo led the team advising Goldman Sachs, with support from Kristine Jensen, Monhé van der Walt and Pauline Morgan.