Chicago, July 1 – Investcorp Credit Management EU Ltd. sold €390.75 million in a collateralized loan obligation being issued by Harvest CLO XXIX DAC, according to a presale report and press release.
The notes will mature on July 15, 2035.
The CLO consists of €232 million of class A floating-rate notes, €50 million of class B floating-rate notes, €21 million of class C floating-rate notes, €25.5 million of class D floating-rate notes, €17.5 million of class E floating-rate notes, €18 million of class F floating-rate notes, €250,000 million of class Z senior deferrable floating-rate notes and €26.5 million of subordinated notes.
Investcorp Credit Management EU Ltd. will manage the collateral through the end of the reinvestment period on Jan. 14, 2027.
Collateral for the notes consists of syndicated speculative-grade senior secured term loans.
The notes can be called starting July 15, 2024.
Credit Suisse International was the placement agent.
Investcorp is a subsidiary of Bahrain-based Investcorp Bank BSC.
| Issuer: | Harvest CLO XXIX DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €390.75 million
|
| Maturity: | July 15, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Credit Suisse International
|
| Manager: | Investcorp Credit Management EU Ltd.
|
| Call feature: | July 15, 2024
|
| Settlement date: | Aug. 4
|
|
|
| Class A notes
|
| Amount: | €232 million
|
| Securities: | Floating-rate notes
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | €50 million
|
| Securities: | Floating-rate notes
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €21 million
|
| Securities: | Floating-rate notes
|
| Rating: | S&P: A
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €25.5 million
|
| Securities: | Floating-rate notes
|
| Rating: | S&P: BBB
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €17.5 million
|
| Securities: | Floating-rate notes
|
| Rating: | S&P: BB-
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €18 million
|
| Securities: | Floating-rate notes
|
| Rating: | S&P: B-
|
| Fitch: B-
|
|
|
| Class Z notes
|
| Amount: | €0.25 million
|
| Securities: | Floating-rate notes
|
|
|
| Subordinated notes
|
| Amount: | €26.5 million
|
| Securities: | Subordinated notes
|
|
|
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