Chicago, May 4 – Hayfin Emerald Management LLP sold €398.2 million in a collateralized loan obligation being issued by Hayfin Emerald CLO IX DAC, according to multiple press releases.
The notes will mature on May 16, 2033.
The CLO consists of €169 million of class A senior secured floating-rate notes at Euribor plus 107 basis points, €75 million of class A senior secured floating-rate loans at Euribor plus 107 bps, €36.5 million of class B1 senior secured floating-rate notes at Euribor plus 240 bps, €7.5 million of class B2 3% senior secured fixed-rate notes, €24 million of class C senior secured deferrable floating-rate notes at Euribor plus 340 bps, €25 million of class D senior secured deferrable floating-rate notes at Euribor plus 475 bps, €22 million of class E senior secured deferrable floating-rate notes at Euribor plus 719 bps, €8 million of class F senior secured deferrable floating-rate notes at Euribor plus 925 bps and €31.2 million of subordinated notes.
Hayfin Emerald Management LLP will manage the collateral through the end of the reinvestment period on May 15, 2025.
Collateral for the notes consists of euro-denominated senior secured loans and bonds.
Merrill Lynch International was the placement agent.
Hayfin Capital Management is part of London-based alternative asset management firm Hayfin Capital Management LLP.
| Issuer: | Hayfin Emerald CLO IX DAC
|
| Issue: | Floating-rate notes, floating-rate loans, fixed-rate notes and subordinated notes
|
| Amount: | €398.2 million
|
| Maturity: | May 16, 2033
|
| Structure: | Cash flow CLO
|
| Placement agent: | Merrill Lynch International
|
| Manager: | Hayfin Emerald Management LLP
|
| Settlement date: | April 27
|
|
|
| Class A notes
|
| Amount: | €169 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 107 bps
|
| Rating: | Moody's: Aaa
|
| S&P: AAA
|
|
|
| Class A loans
|
| Amount: | €75 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | Euribor plus 107 bps
|
| Rating: | Moody's: Aaa
|
| S&P: AAA
|
|
|
| Class B1 notes
|
| Amount: | €36.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 240 bps
|
| Rating: | Moody's: Aa2
|
| S&P: AA
|
|
|
| Class B2 notes
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| Amount: | €7.5 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 3%
|
| Rating: | Moody's: Aa2
|
| S&P: AA
|
|
|
| Class C notes
|
| Amount: | €24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 340 bps
|
| Rating: | Moody's: A2
|
| S&P: A
|
|
|
| Class D notes
|
| Amount: | €25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 475 bps
|
| Rating: | Moody's: Baa3
|
| S&P: BBB
|
|
|
| Class E notes
|
| Amount: | €22 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 719 bps
|
| Rating: | Moody's: Ba3
|
| S&P: BB-
|
|
|
| Class F notes
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| Amount: | €8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 925 bps
|
| Rating: | Moody's: B3
|
| S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | €31.2 million
|
| Securities: | Subordinated notes
|
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