By Cristal Cody
Tupelo, Miss., July 12 – Napier Park Global Capital Ltd. priced €406.2 million of notes due July 15, 2032 in a European collateralized loan obligation offering, according to a market source.
Henley CLO 1 DAC sold €2 million of class X senior secured floating-rate notes at Euribor plus 50 basis points, €247 million of class A senior secured floating-rate notes at Euribor plus 114 bps, €29 million of class B-1 senior secured floating-rate notes at Euribor plus 180 bps and €10 million of 2.6% class B-2 senior secured fixed-rate notes.
The CLO also priced €25 million of class C senior secured deferrable floating-rate notes at Euribor plus 245 bps; €27 million of class D senior secured deferrable floating-rate notes at Euribor plus 360 bps; €22 million of class E senior secured deferrable floating-rate notes at Euribor plus 567 bps; €10 million of class F senior secured deferrable floating-rate notes at Euribor plus 807 bps and €34.2 million of subordinated notes.
The class X-D notes priced at par. The class E notes priced at 96.94, while the class F notes priced at 94.25.
Citigroup Global Markets Ltd. was the placement agent.
Napier Park Global Capital Ltd. will manage the CLO.
The deal 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 1 DAC
|
| Amount: | €406.2 million
|
| Maturity: | July 15, 2032
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Ltd.
|
| Manager: | Napier Park Global Capital Ltd.
|
| Pricing date: | June 7
|
| Settlement date: | July 29
|
|
|
| Class X notes
|
| Amount: | €2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 50 bps
|
| Price: | Par
|
| Ratings: | Moody’s: Aaa
|
| Fitch: AAA
|
|
|
| Class A notes
|
| Amount: | €247 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 114 bps
|
| Price: | Par
|
| Ratings: | Moody’s: Aaa
|
| Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €29 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 180 bps
|
| Price: | Par
|
| Ratings: | Moody’s: Aa2
|
| Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €10 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.6%
|
| Price: | Par
|
| Ratings: | Moody’s: Aa2
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 245 bps
|
| Price: | Par
|
| Ratings: | Moody’s: A2
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €27 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 360 bps
|
| Price: | Par
|
| Ratings: | Moody’s: Baa3
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €22 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 567 bps
|
| Price: | 96.94
|
| Ratings: | Moody’s: Ba3
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €10 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 807 bps
|
| Price: | 94.25
|
| Ratings: | Moody’s: B3
|
| Fitch: B-
|
|
|
| Equity
|
| Amount: | €34.2 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.
