By Cristal Cody
Tupelo, Miss., May 29 Napier Park Global Capital Ltd. priced 201.75 million of notes due Dec. 15, 2032 in the managers first European collateralized loan obligation offering since 2019, market sources report.
Henley CLO II DAC sold 108 million of class A floating-rate notes at Euribor plus 174 basis points and 26.5 million of class B floating-rate notes at Euribor plus 260 bps.
Further down the stack, the CLO sold 14 million of class C floating-rate notes at Euribor plus 362 bps; 12 million of class D floating-rate notes at Euribor plus 447 bps; 9.5 million of class E floating-rate notes at Euribor plus 743 bps; $4 million of class F floating-rate notes at Euribor plus 854 bps and 27.75 million of subordinated notes.
Napier Park Global Capital will manage the CLO, which has a three-year reinvestment period.
Additional information was not immediately available.
The deal is backed primarily by broadly syndicated senior secured loans and bonds.
The CLO manager priced one euro-denominated CLO in 2019.
Napier Park Global Capital is an asset management firm based in New York.
| Issuer: | Henley CLO II DAC
|
| Amount: | 201.75 million
|
| Maturity: | Dec. 15, 2032
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Manager: | Napier Park Global Capital Ltd.
|
| Settlement date: | June 5
|
|
|
| Class A notes
|
| Amount: | 108 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 174 bps
|
| Ratings: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | 26.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 260 bps
|
| Ratings: | S&P: AA
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | 14 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 362 bps
|
| Ratings: | S&P: A
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | 12 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 447 bps
|
| Ratings: | S&P: BBB
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | 9.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 743 bps
|
| Ratings: | S&P: BB-
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | 4 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 854 bps
|
| Ratings: | S&P: B-
|
| Fitch: B-
|
|
|
| Equity
|
| Amount: | 27.75 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.
