Chicago, March 16 – Napier Park Global Capital Ltd. sold €400.5 million in a collateralized loan obligation being issued by Henley CLO VII DAC, according to a pre-sale report.
The notes will mature on April 25, 2034.
The CLO consists of €232 million of class A floating-rate notes at Euribor plus 105 basis points, €33.9 million of class B-1 floating-rate notes at Euribor plus 240 bps, €22.1 million of class B-2 3.% fixed-rate notes, €24 million of class C floating-rate notes at Euribor plus 315 bps, €29 million of class D floating-rate notes at Euribor plus 425 bps, €18.8 million of class E floating-rate notes at Euribor plus 714 bps, €12.2 million of class F floating-rate notes at Euribor plus 950 bps and €28.5 million of subordinated notes.
Napier Park Global Capital Ltd. will manage the collateral through the end of the reinvestment period on April 25, 2025.
Collateral for the notes consists of syndicated speculative-grade senior secured term loans.
The notes can be called starting April 22, 2023.
Jefferies International Ltd. was the placement agent.
Napier Park Global Capital is an asset management firm based in New York.
| Issuer: | Henley CLO VII DAC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | €400.5 million
|
| Maturity: | April 25, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies International Ltd.
|
| Manager: | Napier Park Global Capital Ltd.
|
| Call feature: | April 22, 2023
|
| Settlement date: | April 22
|
|
|
| Class A notes
|
| Amount: | €232 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 105 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €33.9 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 240 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | €22.1 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 3%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | €24 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 315 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | €29 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 425 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | €18.8 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 714 bps
|
| Rating: | S&P: BB-
|
|
|
| Class F notes
|
| Amount: | €12.2 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 950 bps
|
| Rating: | S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | €28.5 million
|
| Securities: | Subordinated notes
|
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