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Hayfin prices $606.25 million U.S. CLO; American Money brings its first CLO of year
By Cristal Cody
Tupelo, Miss., March 16 – Hayfin Capital Management LLC priced $606.25 million of notes in a new U.S. CLO offering.
Hayfin Capital Management is part of alternative asset management firm Hayfin Capital Management LLP.
The London firm announced in a news release in December that it agreed to acquire New York-based CLO manager Kingsland Capital Management, LLC in a deal that “establishes Hayfin’s footprint in the U.S. CLO market.”
Kingsland had issued more than $3 billion of CLOs in seven vehicles since it was founded in 2005.
In other primary action, American Money Management Corp. priced $463 million of notes in its first CLO deal of 2018.
More than $21 billion of U.S. broadly syndicated CLOs have priced year to date, according to market sources.
Hayfin prices $606.25 million
Hayfin Capital Management sold $606.25 million of notes due April 20, 2031 in the CLO via Citigroup Global Markets Inc., according to market sources.
Hayfin Kingsland VIII, Ltd./Hayfin Kingsland VIII, LLC priced $384 million of class A floating-rate notes at Libor plus 112 basis points in the AAA-rated tranche.
Hayfin Capital Management is part of London-based alternative asset management firm Hayfin Capital Management.
American Money brings deal
American Money Management priced $463 million of notes due April 2031 in its CLO offering, according to a market source.
AMMC CLO 22, Ltd./AMMC CLO 22 Corp. sold $286 million of class A senior secured floating-rate notes at a discount margin of Libor plus 103 bps at the top of the capital stack.
MUFG was the placement agent.
American Money Management priced one new CLO and refinanced two vintage CLOs in 2017.
The Cincinnati-based firm is a subsidiary of insurance holding company American Financial Group, Inc.
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