3i closes Harvest XII, a €413m CLO
3i Group plc (“3i” or “3i Group”), an international investment manager, today confirms the closing of a collateralised loan obligation (“CLO”) fund, Harvest CLO XII (“Harvest XII”), a €413 million CLO.
Harvest XII will principally focus on investing in European senior secured loans backing private equity buyouts in Europe.The vehicle will have a final legal maturity of August 2028.
Jeremy Ghose, CEO and Managing Partner of 3i Debt Management said:
“We are pleased to have successfully closed Harvest XII, our second CLO this week following the $510.5m Jamestown VII CLO. In the year to date, we have raised c. $2.3bn through four CLO vehicles and the launch of the 3i Global Floating Rate Income Fund.”
At 31 March 2015, 3iDM managed 33 funds and had total assets under management of approx. $11 billion. In July, 3iDM launched the 3i Global Floating Rate Income Fund, an open-ended fund which will focus on investing in a diverse portfolio of primarily senior secured floating rate corporate credit assets in Europe and the US.
- Ends -
For further information, contact:
Kathryn van der Kroft
Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com
Latika Shah
Tel: +44 20 7975 3157
Email: latika.shah@3i.com
Notes to editors:
Harvest XII
The transaction has a 4 year investment period and a non-call period of 2 years. The capital structure is as follows:
| Class | (€MM) | (S&P/Fitch) | Coupon |
|---|---|---|---|
| A-1 | 229.8 | AAA/AAA | E + 1.34% |
| A-2 | 5 | AAA/AAA | 1.84% |
| B-1 | 37.75 | AA/AA | E + 2.05% |
| B-2 | 13 | AA+/AA | 2.79% |
| C | 26.5 | A/A | E + 2.65% |
| D | 20.5 | BBB/BBB | E + 3.25% |
| E | 23.5 | BB/BB | E + 4.75% |
| F | 14 | B-/B- | E + 6.24% |
| SUB | 43 | Not rated |
About 3i Group
3i is a leading international investment manager focused on mid-market Private Equity, Infrastructure and Debt Management across Europe, North America and Asia. For further information, please visit: www.3i.com
About 3i Debt Management
3i Debt Management specialises in the management of third-party funds investing in corporate debt issued by medium and large European and US companies.