Hayfin today announces the reset of Hayfin Emerald III CLO (“Emerald III”), a Collateralised Loan Obligation (“CLO”), which was first issued in a €410.8m transaction in July 2019 and has now been upsized to €500m. The deal, which marks the fourth reset within the Emerald CLO series, attracted strong investor demand throughout the capital stack. The structure will invest in a diversified portfolio of European senior-secured loans and bonds.

The successful completion of this reset follows a period of strong performance for Hayfin’s European High-Yield & Syndicated Loans business which, over the last 12 months, successfully scaled its CLO business to c.€3bn assets under management and recorded top-quartile performance across its High-Yield platform.

Tim Flynn, Chief Executive Officer at Hayfin, said: “The upsizing of Emerald III caps a successful 12 months for our High-Yield and Syndicated Loans platform. It is testament to the strength and expertise of our team that they have sustained investor demand for Hayfin’s CLO products and fuelled a two-fold increase in the size of the platform over the past year.”

Jefferies acted as arranger for the transaction.