Hayfin prices $606.25 million U.S. CLO; American Money brings its first CLO of year

By Cristal Cody

Tupelo, Miss., March 16 – Hayfin Capital Management LLC priced $606.25 million of notes in a new U.S. CLO offering.

Hayfin Capital Management is part of alternative asset management firm Hayfin Capital Management LLP.

The London firm announced in a news release in December that it agreed to acquire New York-based CLO manager Kingsland Capital Management, LLC in a deal that “establishes Hayfin’s footprint in the U.S. CLO market.”

In other primary action, American Money Management Corp. priced $463 million of notes in its first CLO deal of 2018.

More than $21 billion of U.S. broadly syndicated CLOs have priced year to date, according to market sources.

In its deal, Hayfin Capital Management sold $606.25 million of notes due April 20, 2031 in the CLO via Citigroup Global Markets Inc., according to market sources.

Hayfin Kingsland VIII, Ltd./Hayfin Kingsland VIII, LLC priced $384 million of class A floating-rate notes at Libor plus 112 basis points in the AAA-rated tranche.

Meanwhile, American Money Management priced $463 million of notes due April 2031 in its CLO offering, according to a market source.

AMMC CLO 22, Ltd./AMMC CLO 22 Corp. sold $286 million of class A senior secured floating-rate notes at a discount margin of Libor plus 103 bps at the top of the capital stack.

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