Hayfin today announces the pricing of Hayfin Emerald CLO VIII (“Emerald VIII”), a €403.7m European Collateralised Loan Obligation (“CLO”), extending the firm’s active pipeline of issuance since H2 2020. With five new issuances and four resets announced since July 2020, Hayfin’s European CLO platform now manages c.€3.5bn across its eight deals.
Emerald VIII is the latest Hayfin CLO to attract strong investor demand across the capital stack, with the AAA tranche achieving notably tight pricing of Euribor + 96bps. The top-quartile performance of its European CLOs continues to fuel new and existing investors’ interest in Hayfin-issued debt and equity, driving demand for a platform underpinned by a high-quality team and a credit process proven over the course of the Portfolio Manager’s 20-year-plus track record.
Gina Germano, Portfolio Manager and Head of the European High-Yield & Syndicated Loans investment team at Hayfin, said: “The past 18 months has witnessed a significant expansion of our European CLO platform into a leading European franchise. To have achieved that against the backdrop of Covid-19 is testament to the success of our investment team in maintaining the highest standards of credit selection and achieving down-market outperformance. We are delighted to have built and deepened relationships with a growing and diverse investor base and will continue to scale our platform.”
Goldman Sachs acted as arranger for the transaction.