By Cristal Cody
Tupelo, Miss., Nov. 25 Napier Park Global Capital Ltd. priced 353 million of notes due Jan. 25, 2034 in the managers second European collateralized loan obligation year to date, according to market sources.
Henley CLO III DAC sold 206.5 million of class A floating-rate notes at Euribor plus 110 basis points, 16 million of class B-1 floating-rate notes at Euribor plus 190 bps and 17 million of 2.1% class B-2 fixed-rate notes.
The CLO sold 24 million of class C floating-rate notes at Euribor plus 290 bps; 22 million of class D floating-rate notes at Euribor plus 425 bps; 26 million of class E floating-rate notes at Euribor plus 659 bps; $8.3 million of class F floating-rate notes at Euribor plus 802 bps and 33.2 million of subordinated notes.
BNP Paribas Securities Corp. was the placement agent.
Napier Park Global Capital will manage the CLO, which has a reinvestment period that ends April 25, 2024.
The CLO is backed primarily by broadly syndicated senior secured loans and bonds.
Napier Park Global Capital is an asset management firm based in New York.
| Issuer: | Henley CLO III DAC
|
| Amount: | 353 million
|
| Maturity: | Jan. 25, 2034
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | BNP Paribas Securities Corp.
|
| Manager: | Napier Park Global Capital Ltd.
|
| Settlement date: | Nov. 25
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Class A notes
|
| Amount: | 206.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 110 bps
|
| Ratings: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | 16 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 190 bps
|
| Ratings: | S&P: AA
|
| Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | 17 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 2.1%
|
| Ratings: | S&P: AA
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | 24 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 290 bps
|
| Ratings: | S&P: A
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | 22 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 425 bps
|
| Ratings: | S&P: BBB-
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | 26 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 659 bps
|
| Ratings: | S&P: BB-
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | 8.3 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 802 bps
|
| Ratings: | S&P: B-
|
| Fitch: B-
|
|
|
| Equity
|
| Amount: | 33.2 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
