Chicago, March 15 – Napier Park Global Capital (US) LP sold $509.4 million in a collateralized loan obligation issued by Regatta XXIII Funding Ltd., according to a press release and multiple reports.
The notes will mature on Jan. 22, 2035.
The CLO consists of $5 million of class X senior secured floating-rate notes at Libor plus 95 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, $52.5 million of class B senior secured floating-rate notes at Libor plus 170 bps, $24.5 million of class C mezzanine secured deferrable floating-rate notes, $31.5 million of class D mezzanine secured deferrable floating-rate notes, $26.5 million of class E junior secured deferrable floating-rate notes and $44.4 million of subordinated notes.
Napier Park Global Capital (US) LP will manage the collateral through the end of the five-year reinvestment period on five-year.
Collateral for the notes consists of broadly syndicated senior secured corporate loans.
Nomura Securities International, Inc. was the placement agent.
The asset management firm is based in New York.
Issuer: | Regatta XXIII Funding Ltd.
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Issue: | Floating-rate notes and subordinated notes
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Amount: | $509.4 million
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Maturity: | Jan. 22, 2035
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Structure: | Cash flow CLO
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Placement agent: | Nomura Securities International, Inc.
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Manager: | Napier Park Global Capital (US) LP
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Settlement date: | Dec. 16, 2021
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Class X notes
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Amount: | $5 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 95 bps
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Rating: | Moody's: Aaa
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Class A-1 notes
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Amount: | $315 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 115 bps
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Rating: | Moody's: Aaa
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Class A-2 notes
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Amount: | $10 million
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Securities: | Senior secured floating-rate notes
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Rating: | Moody's: Aaa
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Class B notes
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Amount: | $52.5 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 170 bps
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Rating: | Moody's: Aa2
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Class C notes
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Amount: | $24.5 million
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Securities: | Mezzanine secured deferrable floating-rate notes
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Rating: | Moody's: A2
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Class D notes
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Amount: | $31.5 million
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Securities: | Mezzanine secured deferrable floating-rate notes
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Rating: | Moody's: Baa3
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Class E notes
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Amount: | $26.5 million
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Securities: | Junior secured deferrable floating-rate notes
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Rating: | Moody's: Ba3
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Subordinated notes
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Amount: | $44.4 million
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Securities: | Subordinated notes
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