Hayfin’s European CLO platform achieves landmark tenth new issuance


Hayfin Capital Management today announces the pricing of Hayfin Emerald CLO X (“Emerald X”), a €450-million Collateralised Loan Obligation (“CLO”) and the tenth new-issue deal completed by Hayfin’s European CLO platform since August 2018. It follows the pricing of the €392.8m Hayfin Emerald IX CLO in March 2022.

Consistent with Hayfin’s previous European CLOs backed by broadly syndicated loans, Emerald X will invest in a diversified portfolio of European senior-secured loans and bonds. The structure once again attracted strong investor demand and was oversubscribed in all classes of notes.

Gina Germano, Portfolio Manager and Head of the European High-Yield & Syndicated Loans investment team, said: “It’s pleasing to have completed the tenth new issuance of our European platform which was established four years ago. The deal is testament to our team’s success in delivering a sustained period of excellent performance across our CLO portfolio on behalf of our investors.

“The strong demand for this deal following a period of challenging market conditions for new CLO prints underlines our status as one of Europe’s leading high-yield credit managers. Despite the mounting macroeconomic headwinds, including a rising interest rate environment and sustained inflationary pressures, we feel well placed to further differentiate ourselves through diligent credit selection, focus on research-driven processes and active portfolio management.”

Hayfin’s High-Yield & Syndicated Loans investment team won the High Yield Fund award at the 2021 AltCredit European Performance and Services Awards.

Jefferies acted as arranger for the transaction.

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