Chicago, April 19 – Investcorp Credit Management EU Ltd. sold €451.93 million in a collateralized loan obligation issued by Harvest CLO XXVIII DAC, according to a new issue report and a press release.
The notes will mature on Oct. 25, 2034.
The CLO consists of €2.5 million of class X senior secured floating-rate notes at Euribor plus 50 basis points, €224.5 million of class A-1 senior secured floating-rate notes at Euribor plus 110 bps, €50 million of class A-2 senior secured floating-rate notes at Euribor plus 154 bps, €47.3 million of class B senior secured floating-rate notes at Euribor plus 240 bps, €23.9 million of class C senior secured deferrable floating-rate notes at Euribor plus 340 bps, €30.9 million of class D senior secured deferrable floating-rate notes at Euribor plus 470 bps, €25.6 million of class E senior secured deferrable floating-rate notes at Euribor plus 733 bps, €12.2 million of class F senior secured deferrable floating-rate notes at Euribor plus 960 bps, €0.625 million of class Z senior notes and €34.4 million of subordinated notes.
Investcorp Credit Management EU Ltd. will manage the collateral through the end of the reinvestment period on 4.5-year.
Collateral for the notes consists of senior secured obligations, including senior, mezzanine, second-lien loans and high-yield bonds.
Jefferies International Ltd. was the placement agent.
Investcorp is a subsidiary of Bahrain-based Investcorp Bank BSC.
| Issuer: | Harvest CLO XXVIII DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €451.925 million
|
| Maturity: | Oct. 25, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies International Ltd.
|
| Manager: | Investcorp Credit Management EU Ltd.
|
| Settlement date: | April 12
|
|
|
| Class X notes
|
| Amount: | €2.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 50 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-1 notes
|
| Amount: | €224.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 110 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | €50 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 154 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | €47.3 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 240 bps
|
| Rating: | Moody's: Aa2
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €23.9 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 340 bps
|
| Rating: | Moody's: A2
|
| Fitch: A+
|
|
|
| Class D notes
|
| Amount: | €30.9 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 470 bps
|
| Rating: | Moody's: Baa3
|
| Fitch: BBB
|
|
|
| Class E notes
|
| Amount: | €25.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 733 bps
|
| Rating: | Moody's: Ba3
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €12.2 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 960 bps
|
| Rating: | Moody's: B3
|
| Fitch: B-
|
|
|
| Class Z notes
|
| Amount: | €625,000
|
| Securities: | Notes
|
|
|
| Subordinated notes
|
| Amount: | €34.4 million
|
| Securities: | Subordinated notes
|
|
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