Chicago, Feb. 17 – HPS Investment Partners CLO (UK) LLP reset for €433.9 million the collateralized loan obligation issued by Segovia European CLO 3-2017 DAC, according to multiple releases.
The notes will mature on Jan. 25, 2035.
The reset CLO consists of €248 million of class A-R senior secured floating-rate notes at Euribor plus 95 basis points, €30 million of class B-1-R senior secured floating-rate notes at Euribor plus 175 bps, €10 million of class B-2-R 2.3% senior secured fixed-rate notes, €28 million of class C-R senior secured deferrable floating-rate notes at Euribor plus 275 bps, €26 million of class D-R senior secured deferrable floating-rate notes at Euribor plus 400 bps, €20 million of class E-R senior secured deferrable floating-rate notes at Euribor plus 636 bps, €11 million of class F-R senior secured deferrable floating-rate notes at Euribor plus 903 bps, €0.1 million of class Z-1 notes, €5 million of class Z-2 notes, €0.1 million of class Z-3 notes and €55.7 million of subordinated notes.
HPS Investment Partners CLO (UK) LLP will manage the collateral through the end of the 4.4-year reinvestment period.
The collateral pool will be made of euro-denominated senior secured loans and bonds issued by speculative-grade borrowers.
Merrill Lynch International was the placement agent.
The original name of the issuer was Halcyon Loan Advisors European Funding 2017-1 DAC.
HPS was previously managed under Bardin Hill Loan Advisors (UK) LLP.
HPS is a London-based investment firm.
| Issuer: | Segovia European CLO 3-2017 DAC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | €433.9 million
|
| Maturity: | Jan. 25, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Merrill Lynch International
|
| Manager: | HPS Investment Partners CLO (UK) LLP
|
| Settlement date: | March 4
|
|
|
| Class A-R notes
|
| Amount: | €248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 95 bps
|
| Rating: | Moody's: Aaa
|
| S&P: AAA
|
|
|
| Class B-1-R notes
|
| Amount: | €30 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 175 bps
|
| Rating: | Moody's: Aa2
|
| S&P: AA
|
|
|
| Class B-2-R notes
|
| Amount: | €10 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.3%
|
| Rating: | Moody's: Aa2
|
| S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | €28 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 275 bps
|
| Rating: | Moody's: A2
|
| S&P: A
|
|
|
| Class D-R notes
|
| Amount: | €26 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 400 bps
|
| Rating: | Moody's: Baa3
|
| S&P: BBB-
|
|
|
| Class E-R notes
|
| Amount: | €20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 636 bps
|
| Rating: | Moody's: Ba3
|
| S&P: BB-
|
|
|
| Class F-R notes
|
| Amount: | €11 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 903 bps
|
| Rating: | Moody's: B3
|
| S&P: B-
|
|
|
| Class Z-1 notes
|
| Amount: | €0.1 million
|
| Securities: | Notes
|
|
|
| Class Z-2 notes
|
| Amount: | €5 million
|
| Securities: | Notes
|
|
|
| Class Z-3 notes
|
| Amount: | €0.1 million
|
| Securities: | Notes
|
|
|
| Subordinated notes
|
| Amount: | €55.7 million
|
| Securities: | Subordinated notes
|
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