3i Debt Management offers €411 million in Harvest CLO XVI deal

By Cristal Cody

Eureka Springs, Ark., July 15 – 3i Debt Management Investments Ltd. plans to price €411 million of notes due Oct. 15, 2029 in a collateralized loan obligation offering, according to a market source.

The Harvest CLO XVI DAC offering includes €235 million of class A floating-rate notes (/AAA/); €60 million of B floating-rate notes (/AA/); €23 million of class C floating-rate notes (/A/); €21 million of class D floating-rate notes (/BBB/); €21 million of class E floating-rate notes (/BB/); €10 million of class F floating-rate notes (/B/) and €41 million of subordinated notes.

Credit Suisse Securities (Europe) Ltd. is the placement agent.

3i Debt Management Investments will manage the CLO.

The CLO has a non-call period that ends Oct. 15, 2018 and a reinvestment period that ends Oct. 15, 2020.

The deal is backed by broadly syndicated senior secured loans.

The transaction is expected to close on Sept. 14.

3i Debt Management has priced one euro-denominated CLO year to date.

The affiliate of London-based 3i Group plc sold three euro-denominated CLO deals in 2015.

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