HPS Investment to price €412.2 million Aqueduct European CLO 3 notes

By Cristal Cody

Tupelo, Miss., Feb. 5 – HPS Investment Partners CLO (UK), LLP plans to price €412,225,000 of notes due May 2032 in the Aqueduct European CLO 3-2019 DAC transaction, according to a market source.

The deal is expected to include €2 million of class X senior secured floating-rate notes (Aaa//AAA), €240 million of class A senior secured floating-rate notes (Aaa//AAA) and €45.5 million of class B senior secured floating-rate notes (Aa2//AA).

The offering also includes €23.5 million of class C senior secured deferrable floating-rate notes (A2//A), €27.5 million of class D senior secured deferrable floating-rate notes (Baa3//BBB-), €23 million of class E senior secured deferrable floating-rate notes (Ba3//BB-), €9.5 million of class F senior secured deferrable floating-rate notes (B3//B-) and €41,225,000 of subordinated notes.

Citigroup Global Markets Ltd. is the placement agent.

HPS Investment Partners CLO (UK) will manage the CLO.

The deal is backed primarily by euro-denominated broadly syndicated senior secured loans and bonds.

HPS Investment Partners CLO (UK) is a subsidiary of New York-based investment firm HPS Investment Partners LLC.

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