Hayfin today announces the reset of Hayfin Emerald II CLO (“Emerald II”) in a €398.5m transaction, bringing the firm’s recent issuance of European Collateralised Loan Obligations to almost €2bn since July 2020. Emerald II is a CLO that was first issued in a €407.9m deal in April 2019.
Prior to this transaction, Hayfin had successfully reset Emerald I in a €422m deal in February 2021 and priced the new-issue Emerald IV, Emerald V and Emerald VI CLOs in July 2020, October 2020 and March 2021 respectively. Hayfin’s fifth successful European CLO issuance in this nine-month period once again attracted strong investor demand throughout the capital stack.
Tim Flynn, Chief Executive Officer of Hayfin, said: “The Emerald II reset is the latest development in what has been an extremely busy period of deal activity for our European CLO team. Our strong pipeline of issuance since the outbreak of Covid-19 demonstrates how we have built our platform into one of the leading managers in the market.”
Goldman Sachs acted as arranger for the transaction.