Chicago, Feb. 8 – FIL Investments International sold €404.75 million in a collateralized loan obligation issued by Fidelity Grand Harbour CLO 2021-1 DAC, according to an indenture.
The notes will mature on Oct. 15, 2034.
The CLO consists of €244 million of class A senior secured floating-rate notes at Euribor plus 100 basis points, €34 million of class B-1 senior secured floating-rate notes at Euribor plus 175 bps, €10 million of class B-2 2.15% senior secured fixed-rate notes, €28 million of class C senior secured deferrable floating-rate notes at Euribor plus 250 bps, €25 million of class D senior secured deferrable floating-rate notes at Euribor plus 360 bps, €20 million of class E senior secured deferrable floating-rate notes at Euribor plus 622 bps, €12 million of class F senior secured deferrable floating-rate notes at Euribor plus 915 bps and €31.75 million of subordinated notes.
FIL Investments International will manage the collateral through the end of the reinvestment period on July 15, 2026.
Collateral will be in the form of senior loans, senior secured bonds, mezzanine obligations and high-yield bonds.
The notes can be called starting Dec. 21, 2023.
Barclays was the placement agent.
FIL Investments is a Tonbridge, U.K.-based asset management firm.
| Issuer: | Fidelity Grand Harbour CLO 2021-1 DAC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | €404.75 million
|
| Maturity: | Oct. 15, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays
|
| Manager: | FIL Investments International
|
| Call feature: | Dec. 21, 2023
|
| Settlement date: | Dec. 20
|
|
|
| Class A notes
|
| Amount: | €244 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 100 bps
|
| Price: | Par
|
| Rating: | Moody's: Aaa
|
| Fitch: | AAA
|
|
|
| Class B-1 notes
|
| Amount: | €34 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 175 bps
|
| Price: | Par
|
| Rating: | Moody's: Aa2
|
| Fitch: | AAA
|
|
|
| Class B-2 notes
|
| Amount: | €10 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.15%
|
| Price: | Par
|
| Rating: | Moody's: Aa2
|
| Fitch: | AA
|
|
|
| Class C notes
|
| Amount: | €28 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 250 bps
|
| Price: | Par
|
| Rating: | Moody's: A2
|
| Fitch: | A
|
|
|
| Class D notes
|
| Amount: | €25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 360 bps
|
| Price: | Par
|
| Rating: | Moody's: Baa3
|
| Fitch: | BBB
|
|
|
| Class E notes
|
| Amount: | €20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 622 bps
|
| Price: | 98
|
| Rating: | Moody's: Ba3
|
| Fitch: | BB-
|
|
|
| Class F notes
|
| Amount: | €12 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 915 bps
|
| Price: | 97
|
| Rating: | Moody's: B3
|
| Fitch: | B-
|
|
|
| Subordinated notes
|
| Amount: | €31.75 million
|
| Securities: | Subordinated notes
|
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