Chicago, March 1 – Hayfin Emerald Management LLP issued €403.7 million in a collateralized loan obligation sold by Hayfin Emerald CLO VIII DAC, according to multiple notices.
The notes will mature on Jan. 17, 2035.
The CLO consists of €218.5 million of class A-1 senior secured floating-rate notes at Euribor plus 96 basis points, €25.5 million of class A-2 senior secured floating-rate notes at Euribor plus 125 bps, €44 million of class B senior secured floating-rate notes at Euribor plus 175 bps, €25.2 million of class C senior secured deferrable floating-rate notes at Euribor plus 240 bps, €27.8 million of class D senior secured deferrable floating-rate notes at Euribor plus 350 bps, €21 million of class E senior secured deferrable floating-rate notes at Euribor plus 633 bps, €10.8 million of class F senior secured deferrable floating-rate notes at Euribor plus 896 bps and €30.9 million of subordinated notes.
Hayfin Emerald Management LLP will manage the collateral through the end of the 5.1-year reinvestment period.
The collateral for the notes comes from senior secured obligations.
Goldman Sachs International was the placement agent.
Hayfin Capital Management is part of London-based alternative asset management firm Hayfin Capital Management LLP.
Issuer: | Hayfin Emerald CLO VIII DAC
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Issue: | Floating-rate notes and subordinated notes
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Amount: | €403.7 million
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Maturity: | Jan. 17, 2035
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Structure: | Cash flow CLO
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Placement agent: | Goldman Sachs International
|
Manager: | Hayfin Emerald Management LLP
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Settlement date: | Dec. 17, 2021
|
|
Class A-1 notes
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Amount: | €218.5 million
|
Securities: | Senior secured floating-rate notes
|
Coupon: | Euribor plus 96 bps
|
Rating: | Moody's: Aaa
|
| S&P: AAA
|
|
Class A-2 notes
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Amount: | €25.5 million
|
Securities: | Senior secured floating-rate notes
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Coupon: | Euribor plus 125 bps
|
Rating: | Moody's: Aaa
|
| S&P: AAA
|
|
Class B notes
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Amount: | €44 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Euribor plus 175 bps
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Rating: | Moody's: Aa2
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| S&P: AA
|
|
Class C notes
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Amount: | €25.2 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Euribor plus 240 bps
|
Rating: | Moody's: A2
|
| S&P: A
|
|
Class D notes
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Amount: | €27.8 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Euribor plus 350 bps
|
Rating: | Moody's: Baa3
|
| S&P: BBB
|
|
Class E notes
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Amount: | €21 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Euribor plus 633 bps
|
Rating: | Moody's: Ba3
|
| S&P: BB-
|
|
Class F notes
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Amount: | €10.8 million
|
Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Euribor plus 896 bps
|
Rating: | Moody's: B3
|
| S&P: B-
|
|
Subordinated notes
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Amount: | €30.9 million
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Securities: | Subordinated notes
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