Chicago, June 22 – Napier Park Global Capital (US) LP sold $507.2 million in a collateralized loan obligation issued by Regatta XXII Funding Ltd., according to a new issue report.
The notes will mature on July 20, 2035.
The CLO consists of $320 million of class A senior secured floating-rate notes at SOFR plus 154 basis points, $45 million of class B-1 senior secured floating-rate notes at SOFR plus 200 bps, $15 million of class B-2 4.78% senior secured fixed-rate notes, $30 million of class C mezzanine secured deferrable floating-rate notes at SOFR plus 250 bps, $30 million of class D mezzanine secured deferrable floating-rate notes at SOFR plus 365 bps, $20 million of class E junior secured deferrable floating-rate notes at SOFR plus 719 bps and $47.2 million of subordinated notes.
Napier Park Global Capital (US) LP will manage the collateral through the end of the 5.1-year reinvestment period.
Collateral for the notes consists of first-lien senior secured leveraged loans.
Natixis Securities Americas LLC was the placement agent.
The asset management firm is based in New York.
| Issuer: | Regatta XXII Funding Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $507.2 million
|
| Maturity: | July 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Natixis Securities Americas LLC
|
| Manager: | Napier Park Global Capital (US) LP
|
| Settlement date: | June 16
|
|
|
| Class A notes
|
| Amount: | $320 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 154 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-1 notes
|
| Amount: | $45 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 200 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class B-2 notes
|
| Amount: | $15 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 4.78%
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 365 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
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| Amount: | $20 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 719 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $47.2 million
|
| Securities: | Subordinated notes
|
|
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