Chicago, March 15 – Napier Park Global Capital (US) LP sold $509.4 million in a collateralized loan obligation issued by Regatta XXIII Funding Ltd., according to a press release and multiple reports.
The notes will mature on Jan. 22, 2035.
The CLO consists of $5 million of class X senior secured floating-rate notes at Libor plus 95 basis points, $315 million of class A-1 senior secured floating-rate notes at Libor plus 115 bps, $10 million of class A-2 senior secured floating-rate notes, $52.5 million of class B senior secured floating-rate notes at Libor plus 170 bps, $24.5 million of class C mezzanine secured deferrable floating-rate notes, $31.5 million of class D mezzanine secured deferrable floating-rate notes, $26.5 million of class E junior secured deferrable floating-rate notes and $44.4 million of subordinated notes.
Napier Park Global Capital (US) LP will manage the collateral through the end of the five-year reinvestment period on five-year.
Collateral for the notes consists of broadly syndicated senior secured corporate loans.
Nomura Securities International, Inc. was the placement agent.
The asset management firm is based in New York.
| Issuer: | Regatta XXIII Funding Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $509.4 million
|
| Maturity: | Jan. 22, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Nomura Securities International, Inc.
|
| Manager: | Napier Park Global Capital (US) LP
|
| Settlement date: | Dec. 16, 2021
|
|
|
| Class X notes
|
| Amount: | $5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 95 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-1 notes
|
| Amount: | $315 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 115 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $10 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $52.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 170 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | $24.5 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
|
| Amount: | $31.5 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
|
| Amount: | $26.5 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $44.4 million
|
| Securities: | Subordinated notes
|
|
|
© 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.
