clo Archives - Hayfin

About Hayfin
About Hayfin

Since our formation in 2009, Hayfin has grown to become Europe’s leading alternative asset management platform. We have developed in a measured way to build transatlantic capabilities and establish a growing local presence in Asia.

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Strategies

We provide critical debt, equity and hybrid capital solutions tailored to the European market. Our product suite is designed to address every financing need of non-investment grade borrowers, providing broad and flexible mandates. Covering both primary and secondary markets and providing financing across the spectrum from growth to stress or distress.
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People

Led by Hayfin’s Executive Committee, our international team of industry professionals represent the best experience and expertise in the market. Our people embrace our values and culture contributing to our collective success.

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Responsibility

Responsibility is foundational to Hayfin and informs our core values.

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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.

Hayfin announces the pricing of Hayfin Emerald CLO XIII (“Emerald XIII”), a €405.7 million Collateralised Loan Obligation (“CLO”).

Hayfin’s first European issuance of 2024 follows last year’s prints of Emerald CLO XII in November 2023 and Emerald CLO XI in January 2023. The transaction increases the AUM of Hayfin’s European CLO platform to more than €5.5 billion.

Like Hayfin’s previous CLOs in the Emerald series, Emerald XIII will invest in a diversified portfolio of European senior-secured loans and bonds. Hayfin secured a leading Japanese institutional allocator as anchor investor in the transaction with a preplacement of the AAA tranche. The strength of demand for Emerald XIII, from both new and existing investors in Hayfin’s European CLO platform, was further reflected in tight pricing achieved at all levels of the capital structure and the accelerated timeframe within which the transaction was executed.

Gina Germano, Hayfin Head of European High-Yield & Syndicated Loans, commented: “We believe this transaction emphasises our position as one of Europe’s leading and best-established high-yield credit managers. Our ability to lock in a blue-chip Japanese anchor investor in only six weeks, following a competitive process conducted prior to the launch of the deal, provides a strong foundation for our platform to establish future partnerships in this strategically important market. The competitive spreads at which the remaining notes priced reflects the confidence of both first-time and returning investors in our track record of credit selection and portfolio management.”