Chicago, Oct. 28 – HPS Investment Partners CLO (UK) LLP refinanced for €414.9 million the collateralized loan obligation issued by Aqueduct European CLO 3-2019 DAC, according to a term sheet.
The notes will mature on Aug. 15, 2034.
The CLO now consists of €1.2 million of class X senior secured floating-rate notes at Euribor plus 45 basis points, €186 million of class A senior secured floating-rate notes at Euribor plus 93 bps, €60 million of class A senior secured floating-rate loans at Euribor plus 93 bps, €29.5 million of class B-1 senior secured floating-rate notes at Euribor plus 150 bps, €12 million of class B-2 1.95% senior secured fixed-rate notes, €26.5 million of class C senior secured deferrable floating-rate notes at Euribor plus 200 bps, €26 million of class D senior secured deferrable floating-rate notes at Euribor plus 310 bps, €21.2 million of class E senior secured deferrable floating-rate notes at Euribor plus 593 bps, €11.2 million of class F senior secured deferrable floating-rate notes at Euribor plus 835 bps, €2 million of subordinated notes, €39.2 million class M-1 subordinated notes and €100,000 class M-3 subordinated notes.
HPS Investment Partners CLO (UK) LLP will manage the collateral through the end of the reinvestment period on Feb. 14, 2026.
The notes can be called starting Dec. 29, 2022.
Jefferies was the placement agent.
HPS Investment Partners CLO (UK) is a subsidiary of New York-based investment firm HPS Investment Partners LLC.
| Issuer: | Aqueduct European CLO 3-2019 DAC
|
| Issue: | Floating-rate notes, floating-rate loans, fixed-rate notes and subordinated notes
|
| Amount: | €414.9 million
|
| Maturity: | Aug. 15, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies
|
| Manager: | HPS Investment Partners CLO (UK) LLP
|
| Call feature: | Dec. 29, 2022
|
| Settlement date: | June 28
|
|
|
| Class X notes
|
| Amount: | €1.2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 45 bps
|
| Price: | Par
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A notes
|
| Amount: | €186 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 93 bps
|
| Price: | Par
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A loans
|
| Amount: | €60 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | Euribor plus 93 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €29.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 150 bps
|
| Price: | Par
|
| Rating: | Moody's: Aa2
|
| Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €12 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 1.95%
|
| Price: | Par
|
| Rating: | Moody's: Aa2
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €26.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 200 bps
|
| Price: | Par
|
| Rating: | Moody's: A2
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €26 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 310 bps
|
| Price: | Par
|
| Rating: | Moody's: Baa3
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €21.2 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 593 bps
|
| Price: | 99.5
|
| Rating: | Moody's: Ba3
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €11.2 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 835 bps
|
| Price: | 97
|
| Rating: | Moody's: B3
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €2 million
|
| Securities: | Subordinated notes
|
|
|
| Class M-1 subordinated notes
|
| Amount: | €39.2 million
|
| Securities: | Subordinated notes
|
| Price: | 70
|
|
|
| Class M-3 subordinated notes
|
| Amount: | €100,000
|
| Securities: | Subordinated notes
|
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