BNP Paribas wins ICG mandate 26 June 2014London Reporter: Stephen Durham
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BNP Paribas 网爆吃瓜 Services has been appointed to provide a range of debt market services, including collateral administration, trustee and liquidity services, to Intermediate Capital Group (ICG) for the launch of its latest European collateralised loan obligation (CL0) deal, St. Paul鈥檚 CLO IV.
The added liquidity, provided by BNP Paribas, will support deal structure and ensure smooth flows of interest from the asset pool to the end investor.
鈥淲e have been consistently impressed with BNP Paribas 网爆吃瓜 Services and are pleased to have appointed them as administrator for this landmark CLO. The market has continued to grow this year and we are well placed to make the most of a positive outlook for CLOs,鈥� said Chris Connelly, ICG鈥檚 director of operations.
The bank has provided ICG, one of the largest and most established loan and credit fund providers in Europe, with custody, CLO and fund services since 2006. This included a recent mandate to provide fund administration, custody and transfer agency for ICG鈥檚 Senior Debt Partners Fund.
Stefano Bondioli, European head of sales for debt market services at BNP Paribas 网爆吃瓜 Services, commented: 鈥淭his mandate highlights the value we can bring to our clients through specialist and comprehensive loan market services and a strong liquidity backing. We look forward to continuing our relationship with ICG.鈥�
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