By Cristal Cody
Tupelo, Miss., Feb. 16 – HarbourView Asset Management Corp. priced $327.92 million of HarbourView CLO VII, Ltd. notes due Nov. 16, 2026 at par in a refinancing of the 2014 transaction, a market source said.
The CLO sold $228 million of class A1-R floating-rate notes at Libor plus 125 basis points; $30 million of 2.93% class AF-R fixed-rate notes; $2.92 million of class AX-R floating-rate notes at Libor plus 100 bps; $33 million of class B1-R floating-rate notes at Libor plus 165 bps; $10 million of 3.57% class BF-R fixed-rate notes and $24 million of class C-R floating-rate notes at Libor plus 238 bps.
Mizuho Securities USA Inc. arranged the transaction.
The CLO manager is HarbourView Asset Management.
HarbourView Asset Management is a New York-based investment management firm.
| Issuer: | HarbourView CLO VII, Ltd
|
| Amount: | $327.92 million refinancing
|
| Maturity: | Nov. 16, 2026
|
| Securities: | Fixed- and floating-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | Mizuho Securities USA Inc.,
|
| Manager: | HarbourView Asset Management Corp.
|
| Pricing date: | Feb. 9
|
|
|
| Class A1-R notes
|
| Amount: | $228 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 125 bps
|
| Price: | Par
|
| Ratings: | Moody’s: Aaa expected
|
| Fitch: AAA expected
|
|
|
| Class AF-R notes
|
| Amount: | $30 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 2.93%
|
| Price: | Par
|
| Ratings: | Moody’s: Aaa expected
|
| Fitch: AAA expected
|
|
|
| Class AX-R notes
|
| Amount: | $2.92 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 100 bps
|
| Price: | Par
|
| Ratings: | Moody’s: Aaa expected
|
| Fitch: AAA expected
|
|
|
| Class B1-R notes
|
| Amount: | $33 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 165 bps
|
| Price: | Par
|
| Rating: | Moody’s: Aa2 expected
|
|
|
| Class BF-R notes
|
| Amount: | $10 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 3.57%
|
| Price: | Par
|
| Rating: | Moody’s: Aa2 expected
|
|
|
| Class C-R notes
|
| Amount: | $24 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 238 bps
|
| Price: | Par
|
| Rating: | Moody’s: A2 expected
|
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