Chicago, June 23 – Napier Park Global Capital (US) LP sold $404 million in a collateralized loan obligation being issued by Regatta XXV Funding Ltd., according to a presale report.
The notes will mature on July 15, 2036.
The CLO consists of $256 million of class A floating-rate notes at SOFR plus 190 basis points, $41 million of class B-1 floating-rate notes at SOFR plus 265 bps, $5 million of class B-2 6.2% fixed-rate notes, $22 million of class C floating-rate notes at SOFR plus 305 bps, $24 million of class D floating-rate notes at SOFR plus 520 bps, $14.8 million of class E floating-rate notes at SOFR plus 841 bps and $41.2 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 first-lien senior secured leveraged loans.
The asset management firm is based in New York.
Issuer: | Regatta XXV Funding Ltd.
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Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
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Amount: | $404 million
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Maturity: | July 15, 2036
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Structure: | Cash flow CLO
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Manager: | Napier Park Global Capital (US) LP
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Settlement date: | June 29
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Class A notes
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Amount: | $256 million
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Securities: | Floating-rate notes
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Coupon: | SOFR plus 190 bps
|
|
Class B-1 notes
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Amount: | $41 million
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Securities: | Floating-rate notes
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Coupon: | SOFR plus 265 bps
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Rating: | Fitch: AA
|
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Class B-2 notes
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Amount: | $5 million
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Securities: | Fixed-rate notes
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Coupon: | 6.2%
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Rating: | Fitch: AA
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Class C notes
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Amount: | $22 million
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Securities: | Floating-rate notes
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Coupon: | SOFR plus 305 bps
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Rating: | Fitch: A
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Class D notes
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Amount: | $24 million
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Securities: | Floating-rate notes
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Coupon: | SOFR plus 520 bps
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Rating: | Fitch: BBB-
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Class E notes
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Amount: | $14.8 million
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Securities: | Floating-rate notes
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Coupon: | SOFR plus 841 bps
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Rating: | Fitch: BB-
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Subordinated notes
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Amount: | $41.2 million
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Securities: | Subordinated notes
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