Investcorp Credit Management EU is debuting its first European CLO since announcing its
Harvest CLO XVII is the fifth new Euro-denominated collateralized loan obligation transaction of the year, with a pool of both secured term loans and high-yield bonds backing seven classes of rated notes and an unrated subordinate tranche.
The size of the transaction is to be determined.
Standard & Poor’s has assigned provisional structured finance ratings, including the ‘AAA’-rated Class A tranche.
The CLO is a follow-up to the previous Harvest CLO last September, in a €452 million (US$488 million) transaction.
That proved to be the final deal structured by 3i Debt Management prior to the €222 million merger announcement. 3i was one of the largest CLO managers in Europe and a manager of nearly $12 billion in U.S. and European CLOs that nearly doubled Investcorp’s total global AUM to about $23 billion.
3i Debt Management issued two deals in 2016 totaling €864.5 million, as well as the U.S.-based $497.6 million Jamestown CLO IX in August.
