Chicago, March 15 – Hayfin Emerald Management LLP priced a €403.8 million offering of new notes in the Hayfin Emerald CLO VI DAC collateralized loan obligation transaction, according to a release.
The portfolio, due April 17, 2034, includes €242 million of class A senior secured floating-rate notes at Euribor plus 82 basis points, €31.2 million of class B-1 senior secured floating-rate notes at Euribor plus 140 bps and €10 million of class B-2 1.8% senior secured fixed-rate notes.
Lower in the structure, there are €23.6 million of class C senior secured deferrable floating-rate notes at Euribor plus 240 bps, €31.2 million of class D senior secured deferrable floating-rate notes at Euribor plus 380 bps, €21.6 million of class E senior secured deferrable floating-rate notes at Euribor plus 646 bps and €8.4 million of class F senior secured deferrable floating-rate notes at Euribor plus 819 bps.
Additionally, the portfolio has €35.8 million of subordinated notes.
Hayfin Emerald will manage the collateral for the portfolio for the 4.25-year reinvestment period.
The notes are collateralized chiefly by senior secured obligations.
The portfolio will be around 80% ramped by closing.
Hayfin Emerald Management is part of the Hayfin Group with a registered office in London.
| Issuer: | Hayfin Emerald CLO VI DAC
|
| Issue: | Floating-rate, fixed-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Amount: | €403.8 million
|
| Maturity: | April 17, 2034
|
| Underwriter: | Goldman Sachs International
|
| Manager: | Hayfin Emerald Management LLP
|
| Announcement date: | March 12
|
| Settlement date: | April 22
|
|
|
| Class A notes
|
| Amount: | €242 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 82 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-1 notes
|
| Amount: | €31.2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 140 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class B-2 notes
|
| Amount: | €10 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 1.8%
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | €23.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 240 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
|
| Amount: | €31.2 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 380 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
|
| Amount: | €21.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 646 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Class F notes
|
| Amount: | €8.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 819 bps
|
| Rating: | Moody's: B3
|
|
|
| Subordinated notes
|
| Amount: | €35.8 million
|
| Securities: | Subordinated notes
|
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