Chicago, April 10 – FIL Investments International sold €401.15 million in a collateralized loan obligation being issued by Fidelity Grand Harbour CLO 2022-1 DAC, according to an offering document.
The notes will mature on April 15, 2037.
The CLO consists of €173 million of class A senior secured floating-rate notes at Euribor plus 150 basis points, €75 million of class A senior secured floating-rate loans at Euribor plus 150 bps, €31.65 million of class B-1 senior secured floating-rate notes at Euribor plus 215 bps, €12.35 million of class B-2 5.75% senior secured fixed-rate notes, €23 million of class C senior secured deferrable floating-rate notes at Euribor plus 285 bps, €26 million of class D senior secured deferrable floating-rate notes at Euribor plus 400 bps, €19 million of class E senior secured deferrable floating-rate notes at Euribor plus 684 bps, €12 million of class F senior secured deferrable floating-rate notes at Euribor plus 829 bps and €29.15 million of subordinated notes.
FIL Investments International will manage the collateral through the end of the reinvestment period on Oct. 15, 2028.
Collateral for the notes consists of senior secured loans, senior secured bonds, second-lien loans, mezzanine obligations and high-yield bonds.
The notes can be called starting Sept. 25, 2025.
BNP Paribas was the placement agent.
The issuer previously issued a portfolio on Sept. 23, 2022. That issue consisted of €151.5 million of class A senior secured floating-rate notes at Euribor plus 210 bps, €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 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: | €401.15 million
|
| Maturity: | April 15, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | BNP Paribas
|
| Manager: | FIL Investments International
|
| Call feature: | Sept. 25, 2025
|
| Pricing date: | March 22
|
| Settlement date: | March 25
|
|
|
| Class A notes
|
| Amount: | €173 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 150 bps
|
| Ratings: | Moody's: Aaa
|
| S&P: AAA
|
|
|
| Class A loans
|
| Amount: | €75 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | Euribor plus 150 bps
|
| Ratings: | Moody's: Aaa
|
| S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €31.65 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 215 bps
|
| Ratings: | S&P: AA
|
| Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €12.35 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 5.75%
|
| Ratings: | S&P: AA
|
| Fitch: AA
|
| Class C notes
|
| Amount: | €23 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 285 bps
|
| Ratings: | S&P: A
|
| Fitch: A
|
| Class D notes
|
| Amount: | €26 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 400 bps
|
| Ratings: | S&P: BBB-
|
| Fitch: BBB-
|
| Class E notes
|
| Amount: | €19 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 684 bps
|
| Ratings: | S&P: BB-
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €12 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 829 bps
|
| Ratings: | S&P: B-
|
| Fitch: B-
|
| Subordinated notes
|
| Amount: | €29.15 million
|
| Securities: | Subordinated notes
|
|
|
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