Chicago, March 14 – HPS Investment Partners CLO (UK) LLP refinanced for $514.5 million the collateralized loan obligation issued by HPS Loan Management 15-2019 Ltd./HPS Loan Management 15-2019 LLC, according to multiple releases.
The notes will mature on Jan. 22, 2035.
The CLO now consists of $4.5 million of class X senior secured floating-rate notes at SOFR plus 70 basis points, $310 million of class A-1-R senior secured floating-rate notes at SOFR plus 132 bps, $15 million of class A-2-R senior secured floating-rate notes at SOFR plus 155 bps, $55 million of class B-R senior secured floating-rate notes at SOFR plus 185 bps, $30 million of class C-R mezzanine secured deferrable floating-rate notes at SOFR plus 220 bps, $30 million of class D-R mezzanine secured deferrable floating-rate notes at SOFR plus 315 bps, $20 million of class E-R junior secured deferrable floating-rate notes at SOFR plus 680 bps and $50 million of subordinated notes.
HPS Investment Partners CLO (UK) LLP will manage the collateral through the end of the 4.9-year reinvestment period.
Collateral for the notes consists of broadly syndicated senior secured corporate loans.
BofA Securities, Inc. was the placement agent.
The subsidiary of Highbridge Capital Management, LLC is based in New York City.
| Issuer: | HPS Loan Management 15-2019 Ltd./HPS Loan Management 15-2019 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $514.5 million
|
| Maturity: | Jan. 22, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities, Inc.
|
| Manager: | HPS Investment Partners CLO (UK) LLP
|
| Settlement date: | March 8
|
|
|
| Class X notes
|
| Amount: | $4.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 70 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-1-R notes
|
| Amount: | $310 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 132 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2-R notes
|
| Amount: | $15 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 155 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B-R notes
|
| Amount: | $55 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 185 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C-R notes
|
| Amount: | $30 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 220 bps
|
| Rating: | Fitch: A
|
|
|
| Class D-R notes
|
| Amount: | $30 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 315 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E-R notes
|
| Amount: | $20 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 680 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $50 million
|
| Securities: | Subordinated notes
|
© 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.
