Chicago, July 6 – Signal Harmonic Ltd. and Signal Capital Partners Ltd. sold €326.5 million of notes in a collateralized loan obligation issued by Signal Harmonic CLO I DAC, a debut issue for the collateral managers, according to new issue reports.
The notes will mature on July 15, 2036.
The CLO consists of €195 million of class A senior secured floating-rate notes at Euribor plus 210 basis points, €35.8 million of class B senior secured floating-rate notes at Euribor plus 350 bps, €15.9 million of class C senior secured deferrable floating-rate notes at Euribor plus 450 bps, €19.5 million of class D senior secured deferrable floating-rate notes at Euribor plus 650 bps, €19.9 million of class E senior secured deferrable floating-rate notes at Euribor plus 833 bps, €4 million of class F senior secured deferrable floating-rate notes at Euribor plus 1,100 bps and €36.4 million of subordinated notes.
Signal Harmonic Ltd. and Signal Capital Partners Ltd. will manage the collateral through the end of the reinvestment period on July 15, 2027.
Collateral for the notes consists of senior secured obligations.
The notes can be called starting June 23, 2025.
Deutsche Bank AG was the placement agent.
Signal Capital Partners is a London-based private asset management firm.
| Issuer: | Signal Harmonic CLO I DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €326.5 million
|
| Maturity: | July 15, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Deutsche Bank AG
|
| Manager: | Signal Harmonic Ltd. and Signal Capital Partners Ltd.
|
| Call feature: | June 23, 2025
|
| Settlement date: | June 22
|
|
|
| Class A notes
|
| Amount: | €195 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 210 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | €35.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 350 bps
|
| Rating: | Moody's: Aa2
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €15.9 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 450 bps
|
| Rating: | Moody's: A2
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €19.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 650 bps
|
| Rating: | Moody's: Baa3
|
| Fitch: BBB
|
|
|
| Class E notes
|
| Amount: | €19.9 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 833 bps
|
| Rating: | Moody's: Ba3
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 1,100 bps
|
| Rating: | Moody's: B3
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €36.4 million
|
| Securities: | Subordinated notes
|
|
|
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