Chicago, Sept. 26 – FIL Investments International sold €345.1 million in a collateralized loan obligation issued by Fidelity Grand Harbour CLO 2022-1 DAC, according to the listing particulars and a press release.
The notes will mature on Oct. 15, 2036.
The CLO consists of €151.5 million of class A senior secured floating-rate notes at Euribor plus 210 basis points, €50 million of class A senior secured floating-rate loans at Euribor plus 210 bps, €25.2 million of class B-1 senior secured floating-rate notes at Euribor plus 375 bps, €13 million of class B-2 6.25% senior secured fixed-rate notes, €17.4 million of class C senior secured deferrable floating-rate notes at Euribor plus 439 bps, €22 million of class D senior secured deferrable floating-rate notes at Euribor plus 603 bps, €13.7 million of class E senior secured deferrable floating-rate notes at Euribor plus 708 bps, €12 million of class F senior secured deferrable floating-rate notes at Euribor plus 1,050 bps and €40.3 million of subordinated notes.
FIL Investments International will manage the collateral through the end of the reinvestment period on April 15, 2027.
Collateral for the notes consists of senior secured obligations.
The notes can be called starting March 23, 2024.
Morgan Stanley & Co. International plc and Standard Chartered Bank were the co-placement agents.
FIL Investments is a Tonbridge, U.K.-based asset management firm.
| Issuer: | Fidelity Grand Harbour CLO 2022-1 DAC
|
| Issue: | Floating-rate notes, floating-rate loans, fixed-rate notes and subordinated notes
|
| Amount: | €345.1 million
|
| Maturity: | Oct. 15, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. International plc and Standard Chartered Bank
|
| Manager: | FIL Investments International
|
| Call feature: | March 23, 2024
|
| Pricing date: | Sept. 22
|
| Settlement date: | Sept. 23
|
|
|
| Class A notes
|
| Amount: | €151.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 210 bps
|
| Price: | Par
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class A loans
|
| Amount: | €50 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | Euribor plus 210 bps
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €25.2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 375 bps
|
| Price: | Par
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €13 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6.25%
|
| Price: | 97
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €17.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 439 bps
|
| Price: | 96.75
|
| Rating: | S&P: A
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €22 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 603 bps
|
| Price: | 95.5
|
| Rating: | S&P: BBB-
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €13.7 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 708 bps
|
| Price: | 90
|
| Rating: | S&P: BB-
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €12 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 1050 bps
|
| Rating: | S&P: B-
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €40.3 million
|
| Securities: | Subordinated notes
|
|
|
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