Chicago, Nov. 9 – Hayfin Emerald Management LLP sold an upsized €457.4 million in a collateralized loan obligation being issued by Hayfin Emerald CLO VII DAC, according to a term sheet and notice.
The notes will mature on April 15, 2034.
The CLO consists of €236.9 million of class A-1 senior secured floating-rate notes at Euribor plus 95 basis points, €32 million of class A-2 senior secured floating-rate notes at Euribor plus 120 bps, €54 million of class B senior secured floating-rate notes at Euribor plus 165 bps, €27.2 million of class C senior secured deferrable floating-rate notes at Euribor plus 215 bps, €32.4 million of class D senior secured deferrable floating-rate notes at Euribor plus 330 bps, €23.9 million of class E senior secured deferrable floating-rate notes at Euribor plus 606 bps, €12.6 million of class F senior secured deferrable floating-rate notes at Euribor plus 865 bps and €38.4 million of subordinated notes.
Hayfin Emerald Management LLP will manage the collateral through the end of the reinvestment period on Feb. 25, 2026.
The notes can be called starting Feb. 25, 2023.
Jefferies was the placement agent.
Hayfin Capital Management is part of London-based alternative asset management firm Hayfin Capital Management LLP.
| Issuer: | Hayfin Emerald CLO VII DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €457.4 million
|
| Maturity: | April 15, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies
|
| Manager: | Hayfin Emerald Management LLP
|
| Call feature: | Feb. 25, 2023
|
| Settlement date: | Aug. 24
|
|
|
| Class A-1 notes
|
| Amount: | €236.9 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 95 bps
|
| Price: | Par
|
| Rating: | Moody's: Aaa
|
| S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | €32 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 120 bps
|
| Price: | Par
|
| Rating: | Moody's: Aaa
|
| S&P: AAA
|
|
|
| Class B notes
|
| Amount: | €54 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 165 bps
|
| Price: | Par
|
| Rating: | Moody's: Aa2
|
| S&P: AA
|
|
|
| Class C notes
|
| Amount: | €27.2 million
|
| Securities: | Senior secured Deferrable floating-rate notes
|
| Coupon: | Euribor plus 215 bps
|
| Price: | Par
|
| Rating: | Moody's: A2
|
| S&P: A
|
|
|
| Class D notes
|
| Amount: | €32.4 million
|
| Securities: | Senior secured Deferrable floating-rate notes
|
| Coupon: | Euribor plus 330 bps
|
| Price: | Par
|
| Rating: | Moody's: Baa3
|
| S&P: BBB
|
|
|
| Class E notes
|
| Amount: | €23.9 million
|
| Securities: | Senior secured Deferrable floating-rate notes
|
| Coupon: | Euribor plus 606 bps
|
| Price: | 99
|
| Rating: | Moody's: Ba3
|
| S&P: BB-
|
|
|
| Class F notes
|
| Amount: | €12.6 million
|
| Securities: | Senior secured Deferrable floating-rate notes
|
| Coupon: | Euribor plus 865 bps
|
| Price: | 97
|
| Rating: | Moody's: B3
|
| S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | €38.4 million
|
| Securities: | Subordinated notes
|
| Price: | Par
|
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