collateralised loan obligation Archives

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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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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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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Hayfin has announced the reset of Hayfin US XII (“Hayfin US XII”), a $353 million Collateralized Loan Obligation (“CLO”), which was first priced in December 2020. The deal attracted strong investor demand throughout the capital stack. Hayfin US XII will be backed by a diversified portfolio of primarily US senior-secured loans and will have a five-year reinvestment period and a two-year non-call period.

The successful completion of this reset follows an active 2024 with the new issue print of Hayfin US XV in addition to the pricing of two new issue CLOs and three reset transactions of Hayfin’s Emerald series, its European shelf. Hayfin’s Global CLO Platform AUM stands at more than $7.3bn.

Peter Swanson, Hayfin’s Senior Portfolio Manager and Head of US High-Yield and Syndicated Loans, commented: “We believe this transaction highlights our leading performance and portfolio quality. The competitive structure and spreads at which the notes were placed, reflects the confidence of both new and repeat investors in our track record of credit selection and active portfolio management.”

Jefferies acted as an arranger for this reset and the original new issue.

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.”