Chicago, June 23 – Napier Park Global Capital (US) LP sold $404 million in a collateralized loan obligation being issued by Regatta XXV Funding Ltd., according to a presale report.
The notes will mature on July 15, 2036.
The CLO consists of $256 million of class A floating-rate notes at SOFR plus 190 basis points, $41 million of class B-1 floating-rate notes at SOFR plus 265 bps, $5 million of class B-2 6.2% fixed-rate notes, $22 million of class C floating-rate notes at SOFR plus 305 bps, $24 million of class D floating-rate notes at SOFR plus 520 bps, $14.8 million of class E floating-rate notes at SOFR plus 841 bps and $41.2 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 first-lien senior secured leveraged loans.
The asset management firm is based in New York.
| Issuer: | Regatta XXV Funding Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $404 million
|
| Maturity: | July 15, 2036
|
| Structure: | Cash flow CLO
|
| Manager: | Napier Park Global Capital (US) LP
|
| Settlement date: | June 29
|
|
|
| Class A notes
|
| Amount: | $256 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 190 bps
|
|
|
| Class B-1 notes
|
| Amount: | $41 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 265 bps
|
| Rating: | Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | $5 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 6.2%
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $22 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 305 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $24 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 520 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $14.8 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 841 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | $41.2 million
|
| Securities: | Subordinated notes
|
|
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