Chicago, March 1 – Napier Park Global Capital (US) LP sold $682.4 million in a collateralized loan obligation being issued by Regatta XXIV Funding Ltd./Regatta XXIV Funding LLC, according to a press release and a notice.
The notes will mature on Jan. 20, 2035.
The CLO consists of $171 million of class A-1L floating-rate loans at Libor plus 115 basis points, $315 million of class A-1 senior secured floating-rate notes at Libor plus 115 bps, $10 million of class A-2 senior secured floating-rate notes, $55 million of class B mezzanine secured deferrable floating-rate notes at Libor plus 170 bps, $25.5 million of class C mezzanine secured deferrable floating-rate notes at Libor plus 210 bps, $31.5 million of class D mezzanine secured deferrable floating-rate notes, $23 million of class E junior secured deferrable floating-rate notes at Libor plus 680 bps and $51.4 million of subordinated notes.
Napier Park Global Capital (US) LP will manage the collateral through the end of the five-year reinvestment period.
The CLO is collateralized by senior secured corporate loans.
Nomura Securities International, Inc. was the placement agent.
The asset management firm is based in New York.
| Issuer: | Regatta XXIV Funding Ltd./Regatta XXIV Funding LLC
|
| Issue: | Floating-rate notes, loans and subordinated notes
|
| Amount: | $682.4 million
|
| Maturity: | Jan. 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Nomura Securities International, Inc.
|
| Manager: | Napier Park Global Capital (US) LP
|
| Settlement date: | Dec. 30, 2021
|
|
|
| Class A-1L loans
|
| Amount: | $171 million
|
| Securities: | Floating-rate loans
|
| Coupon: | Libor plus 115 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-1 notes
|
| Amount: | $315 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 115 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $10 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $55 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 170 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | $25.5 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 210 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
|
| Amount: | $31.5 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
|
| Amount: | $23 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 680 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $51.4 million
|
| Securities: | Subordinated notes
|
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