Chicago, Dec. 15 – Napier Park Global Capital Ltd. sold €282 million in a collateralized loan obligation being issued by Henley CLO IX DAC, according to an offering document.
The notes will mature on April 20, 2032.
The CLO consists of €190.5 million of class A senior secured floating-rate notes at Euribor plus 195 basis points, €23.3 million of class B senior secured floating-rate notes at Euribor plus 381 bps, €16.2 million of class C senior secured floating-rate notes at Euribor plus 462 bps, €16.8 million of class D senior secured floating-rate notes at Euribor plus 612 bps, €19.5 million of class E senior secured floating-rate notes at Euribor plus 732 bps, €2.4 million of class F senior secured deferrable floating-rate notes at Euribor plus 945 bps and €13.3 million of subordinated notes.
Napier Park Global Capital Ltd. will manage the collateral.
The CLO is static. There is no reinvestment period.
Collateral for the notes consists of senior loans, senior secured bonds, mezzanine obligations and high-yield bonds.
The notes can be called starting Dec. 2, 2023.
J.P. Morgan Securities plc was the placement agent.
Napier Park Global Capital is an asset management firm based in New York.
| Issuer: | Henley CLO IX DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €282 million
|
| Maturity: | April 20, 2032
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities plc
|
| Manager: | Napier Park Global Capital Ltd.
|
| Call feature: | Dec. 2, 2023
|
| Pricing date: | Dec. 1
|
| Settlement date: | Dec. 2
|
|
|
| Class A notes
|
| Amount: | €190.5 million
|
| Securities: | Senior Secured floating-rate notes
|
| Coupon: | Euribor plus 195 bps
|
| Price: | 99.25
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | €23.3 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 381 bps
|
| Price: | 99.5
|
| Rating: | Moody's: Aa2
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €16.2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 462 bps
|
| Price: | 98
|
| Rating: | Moody's: A2
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €16.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 612 bps
|
| Price: | 96.5
|
| Rating: | Moody's: Baa3
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €19.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 732 bps
|
| Price: | 86
|
| Rating: | Moody's: Ba3
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €2.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 945 bps
|
| Price: | 82
|
| Rating: | Moody's: B3
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €13.3 million
|
| Securities: | Subordinated notes
|
| Price: | Par
|
|
|
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