3i closes €310m CLO

The CLO is the group's first in Europe since its debt management business was set up in 2011. Harvest VII was closed through co-arrangers Resource Capital Markets and Natixis.

The issue comprises an aggregate of €268m of investment grade debt in five classes as well as €42m of subordinated notes. 3i has taken a minority stake in the subordinated notes. The CLO matures in October 2025 and will focus on investing in senior secured loans supporting private equity buyouts in Europe. Harvest VII has a four-year investment period and a non-call period of two years.

This latest issue follows two US CLOs closed by 3i over the last 10 months.

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• Topics
• Financing
• 3i
• Natixis