Hayfin has announced the reset of Hayfin Emerald IX, a €400m Collateralized Loan Obligation (“CLO”), which was first priced in March 2022. The reset closed on 19 December 2025 and attracted demand across the capital stack from repeat and new investors. Hayfin Emerald IX will have a 4.5-year reinvestment period and a 1.5-year non-call period. 

The successful completion of this reset concludes a busy year across Hayfin’s Global CLO Platform, with a total of six reset transactions executed in 2025. This includes three prior resets within Hayfin’s European Emerald series, alongside two resets as part of the firm’s US CLO platform, led by Peter Swanson, Hayfin’s Head of US High Yield and Syndicated Loans. As of 31 December 2025, Hayfin’s Global CLO Platform holds more than €7.1 billion in AUM.

Jason Late, Hayfin’s Head of European High-Yield and Syndicated Loans, commented: “This milestone deal marks the final transaction in what has been another busy year for our CLO business. With compressed spreads in 2025 compared to previous years, we believe our strong reset activity has helped optimise overall portfolio structure, supporting our proven ability to manage risk and generate attractive returns for investors across the credit cycle.”

Bank of America acted as an arranger for this reset and the original new issue. Orrick acted as portfolio manager counsel for the reset.