Chicago, Feb. 3 – Investcorp Credit Management EU Ltd. sold €409.35 million in a collateralized loan obligation issued by Harvest CLO XXVII DAC, according to multiple notices.
The notes will mature on July 17, 2034.
The CLO consists of €246 million of class A senior secured floating-rate notes at Euribor plus 100 basis points, €28.1 million of class B-1 senior secured floating-rate notes at Euribor plus 170 bps, €12.5 million of class B-2 2.15% senior secured fixed-rate notes, €26 million of class C senior secured deferrable floating-rate notes at Euribor plus 215 bps, €26.4 million of class D senior secured deferrable floating-rate notes at Euribor plus 340 bps, €23 million of class E senior secured deferrable floating-rate notes at Euribor plus 619 bps, €11 million of class F senior secured deferrable floating-rate notes at Euribor plus 885 bps and €0.3 million of class Z notes and €36.05 million of subordinated notes.
Investcorp Credit Management EU Ltd. will manage the collateral through the end of the 4.5-year reinvestment period.
The portfolio will be made of senior, mezzanine, second-lien loans and high-yield bonds.
Barclays was the placement agent.
Investcorp is a subsidiary of Bahrain-based Investcorp Bank BSC.
| Issuer: | Harvest CLO XXVII DAC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | €409.35 million
|
| Maturity: | July 17, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays
|
| Manager: | Investcorp Credit Management EU Ltd.
|
| Settlement date: | Nov. 30
|
|
|
| Class A notes
|
| Amount: | €246 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 100 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €28.1 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 170 bps
|
| Rating: | Moody's: Aa2
|
| Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €12.5 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.15%
|
| Rating: | Moody's: Aa2
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €26 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 215 bps
|
| Rating: | Moody's: A2
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €26.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 340 bps
|
| Rating: | Moody's: Baa3
|
| Fitch: BBB
|
|
|
| Class E notes
|
| Amount: | €23 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 619 bps
|
| Rating: | Moody's: Ba3
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €11 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 885 bps
|
| Rating: | Moody's: B3
|
| Fitch: B-
|
|
|
| Class Z notes
|
| Amount: | €0.3 million
|
| Securities: | Class Z notes
|
|
|
| Subordinated notes
|
| Amount: | €36.05 million
|
| Securities: | Subordinated notes
|
|
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