HPS Investment Partners offers €411 million notes in new Aqueduct European CLO

By Cristal Cody

Tupelo, Miss., April 25 – HPS Investment Partners CLO (UK), LLP plans to price €411 million of notes due July 20, 2030 in the Aqueduct European CLO 1-2017 DAC transaction, according to a market source.

The deal includes €234 million of class A floating-rate notes (AAA); €54 million of class B floating-rate notes (AA); €27 million of class C floating-rate notes (A); €20 million of class D floating-rate notes (BBB); €24 million of class E floating-rate notes (BB); €11.3 million of class F floating-rate notes (B-) and €40.7 million of subordinated notes.

Citigroup Global Markets Ltd. is the placement agent.

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

The CLO has a non-call period that ends June 29, 2019. The reinvestment period ends June 29, 2021.

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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