Highbridge Principal Strategies markets $502.05 million notes due 2028 in CLO deal

By Cristal Cody

Eureka Springs, Ark., April 20 – Highbridge Principal Strategies LLC plans to price $502.05 million of notes due May 15, 2028 in a new collateralized loan obligation offering, according to a market source.

The HPS Loan Management 9-2016 Ltd./HPS Loan Management 9-2016 LLC transaction includes $310 million of class A-1 floating-rate notes (/AAA), $65 million of class A-2 floating-rate notes; $30 million of class B deferrable floating-rate notes; $29 million of class C deferrable floating-rate notes; $12 million of class D-1 deferrable floating-rate notes; $14 million of class D-2 deferrable floating-rate notes and $42.05 million of subordinated notes.

Citigroup Global Markets Inc. is the placement agent.

Highbridge Principal Strategies will manage the CLO.

The deal is backed by broadly syndicated senior secured loans.

Highbridge has priced one U.S. CLO transaction year to date and closed on three CLO deals in 2015.

The subsidiary of Highbridge Capital Management, LLC is based in New York City.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.