Chicago, Jan. 29 Napier Park Global Capital Ltd. priced 407.08 million of notes due April 25, 2034 in the managers second European collateralized loan obligation year to date, according to market sources.
Henley CLO IV DAC sold 248 million of class A floating-rate notes at Euribor plus 95 basis points, 13 million of class B-1 floating-rate notes at Euribor plus 135 bps and 20 million of 1.65% class B-2 fixed-rate notes.
The CLO sold 27.6 million of class C floating-rate notes at Euribor plus 210 bps; 23.8 million of class D floating-rate notes at Euribor plus 300 bps; 27.6 million of class E floating-rate notes at Euribor plus 525 bps; $12 million of class F floating-rate notes at Euribor plus 746 bps and 35.075 million of subordinated notes.
Elavon Financial Services DAC is the account bank and Natwest Markets plc is the swap counterparty.
Napier Park Global Capital will manage the CLO, which has a 4.35-year reinvestment period.
The CLO is backed primarily by broadly syndicated senior secured obligations.
Napier Park Global Capital is an asset management firm based in New York.
| Issuer: | Henley CLO IV DAC
|
| Amount: | 407.075 million
|
| Maturity: | April 25, 2034
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Manager: | Napier Park Global Capital Ltd.
|
| Pricing date: | Jan. 29
|
|
|
| Class A notes
|
| Amount: | 248 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 95 bps
|
| Ratings: | Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | 13 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 135 bps
|
| Ratings: | Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | 20 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 1.65%
|
| Ratings: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | 27.6 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 210 bps
|
| Ratings: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | 23.8 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 300 bps
|
| Ratings: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | 27.6 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 525 bps
|
| Ratings: | Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | 12 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 746 bps
|
| Ratings: | Fitch: B-
|
|
|
| Equity
|
| Amount: | 35.075 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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