Chicago, July 8 – Napier Park Global Capital Ltd. reset €371 million of notes from the Henley CLO II DAC, according to a document.
The notes mature Jan. 25, 2034.
The refinancing notes include all of the notes in the portfolio except the €6.4 million of subordinated notes that are still part of the portfolio, but not part of the refinancing.
The refinancing notes are the €236 million of class A senior secured floating-rate notes at Euribor plus 85 basis points, €20 million of class B-1 senior secured floating-rate notes at Euribor plus 155 bps, €25 million of class B-2 2% senior secured fixed-rate notes, €31 million of class C senior secured deferrable floating-rate notes at Euribor plus 215 bps, €24.5 million of class D senior secured deferrable floating-rate notes at Euribor plus 300 bps, €22 million of class E senior secured deferrable floating-rate notes at Euribor plus 571 bps and €12.5 million of class F senior secured deferrable floating-rate notes at Euribor plus 830 bps.
BofA Securities is the arranger and initial purchaser.
Napier Park is selecting the underlying collateral for the notes.
The notes can be called starting Jan. 25, 2023.
The reinvestment period ends Jan. 25, 2026.
Napier Park Global Capital is an asset management firm based in New York.
| Issuer: | Henley CLO II DAC
|
| Issue: | Floating-rate notes and fixed-rate notes
|
| Amount: | €371 million
|
| Maturity: | Jan. 25, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities
|
| Manager: | Napier Park Global Capital Ltd.
|
| Call feature: | Jan. 25, 2023
|
| Settlement date: | June 15
|
|
|
| Class A notes
|
| Amount: | €236 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 85 bps
|
| Price: | Par
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €20 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 155 bps
|
| Ratings: | S&P: AA
|
| Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €25 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2%
|
| Price: | Par
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €31 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 215 bps
|
| Price: | Par
|
| Ratings: | S&P: A
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €24.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 300 bps
|
| Price: | Par
|
| Ratings: | S&P: BBB-
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €22 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 571 bps
|
| Price: | 99
|
| Ratings: | S&P: BB-
|
| Fitch: BB-
|
| Class F notes
|
| Amount: | €12.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 830 bps
|
| Price: | 97
|
| Ratings: | S&P: B-
|
| Fitch: B-
|
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