Harbourmaster News

Harbourmaster Capital last night won 4 awards at the annual Creditflux Manager Awards in London. It won awards in the following categories:

-Best 2006 European CLO for the Harbourmaster Pro-Rata CLO 1 transaction

-Best recent European CLO for the Global Senior Loan Index transaction

-Best pre 2006 European CLO for the Harbourmaster CLO 5 transaction

-Best European CLO Manager

On collecting the awards Alan Kerr said:  "On behalf of Harbourmaster Capital, we are delighted to collect four out of the 5 awards available for European managers.  This is the third consecutive year that Harbourmaster has swept the board at the Creditflux awards and illustrates the continued strong performance our European loan funds across the credit cycle"

Harbourmaster Capital Management ("HCM"), is pleased to announce that Philippe Benaroya, Chris Wrenn and Gilles Lengaigne have joined HCM.  Philippe, Chris and Gilles all previously worked together at FSA, the monoline insurer.  The team brings deep experience of the infrastructure and project finance market with an aggregate of over 50 years experience covering various jurisdictions and asset classes.  Including:
 
The underwriting of over €7.0bn of infrastructure debt investments over the last 10 years, without incurring any losses:
· €2.7bn in Transportation
· €2.2bn in Healthcare
· €1.2bn in Accommodation and Convention Centers
· €1.1bn in Utilities and Airports
 
Pioneering projects and transactions in various sectors in Continental Europe including:
· The first sterling PFI bond for Road Management Group (A417 and A1M)
· The first Australian dollar PFI bond for Plenary Group (Melbourne Convention Centre)
· The first euro inflation-linked bank debt, and one of the longest infrastructure financings in the French market: Millau Viaduct refinancing
· The first euro inflation-linked bond toll road financing: A28 (France)
· The first project bond for a road financing in CEE: M6 (Hungary)
· The first Spanish water tariff securitisation: EMASESA
· The first wrapped hospital financing in Continental Europe: Brescia Hospital (Italy)
· The first Euro bond issued by a water company in Italy : Acquedotto Pugliese
 
Philippe and Chris join as Managing Directors and Gilles as a Director.
 
Alan Kerr and Mark Moffat said:  "We are delighted that Philippe, Chris and Gilles have joined Harbourmaster as we expand our capabilities in the private debt markets.  We are seeing considerable opportunities in both the primary and secondary infrastructure debt markets and as investors seek long term stable returns".
 
Philippe Benaroya and Chris Wrenn said:  "We are pleased to be able to join Harbourmaster.  The business has developed an enviable reputation in the loan markets and we look forward to helping the business take advantage of the considerable opportunities in the infrastructure debt markets".

Harbourmaster has launched a new mezzanine ABS fund in March 2010 focusing on a portfolio of seasoned European ABS tranches. The fund  will invest in Consumer ABS like RMBS, Auto Loans, Credit Cards and certain lease transaction and will have the possibility to selectively invest  up to 10% in CMBS. There will not be any allocation to CLO's or CDO's  The portfolio will be ramped up in a short period of time and investments will be sold on an opportunistic basis to maximize returns.

Harbourmaster Capital Management Limited, is pleased to announce that it is establishing a new business with Mirja Wenski (subject to Regulatory approval), the former Managing Director of the ZAIS Group Investment Advisors Limited. The new business will provide advice and asset management services to institutional clients, and will be solely focused on portfolios of Asset Backed Securities (ABS).

Harbourmaster wins Credit Flux award for best cash CDOs with European corporate assets in both recent (CLO 7) and seasoned (CLO 5).

Harbourmaster closes Harbourmaster CLO 11 with Dresdner Kleinwort as sole arranger to the transaction, a €500m cash flow CLO of senior secured leveraged loans.

Harbourmaster Senior Loan Fund closed on 30th April 2008. Harbourmaster Senior Loan Fund is the initial Fund of Harbourmaster Investment Funds, a unit trust constituted as an umbrella unit trust and authorised pursuant to the Unit Trusts Act 1990. The Fund will seek to achieve its objective by investing primarily, whether directly or indirectly, in European senior secured bank loans or derivatives referencing such loans (e.g. credit default swaps and total return swaps).

The fund is an Irish regulated Qualifying Investor Fund open to Institutional Investors. The units are listed on the Irish Stock Exchange.

Harbourmaster closes the Global Senior Loan Index Fund with Goldman Sachs as sole arranger and placement agent to the €640m transaction.

Harbourmaster closes Harbourmaster CLO 10 with Bear Stearns as sole arranger to the transaction, a €500m cash flow CLO of senior secured leveraged loans.

Harbourmaster wins Credit Flux award for best cash CDOs with European corporate assets in both recent (CLO 5) and seasoned (CLO 1).

Harbourmaster closes Harbourmaster Pro-Rata 3 with Bank of America as sole arranger to the transaction, a €600m cash flow CLO of senior secured leveraged loans.

Harbourmaster closes Harbourmaster CLO 9 with Goldman Sachs as arranger to the transaction, a €750m cash flow CLO of senior secured leveraged loans.

Harbourmaster closes Harbourmaster CLO 8 with Dresdner Kleinwert as arranger to the transaction, a €500m cash flow CLO of senior secured leveraged loans.

Harbourmaster closes Harbourmaster CLO 7 with Bear Stearns as arranger and bookrunner, a €900m cash flow CLO of senior secured leveraged loans. The deal is Harbourmaster's largest to date.

Harbourmaster closes Harbourmaster Pro-Rata 2 with Bank of America as arrangers; a €587m pro-rata cash flow CLO. This deal represents the eighth CLO in the series to be managed by Harbourmaster Capital.

Harbourmaster closes Harbourmaster Pro-Rata 1 with Bear Stearns and ABN AMRO as joint arrangers, a €850m synthetic CLO backed 100% by Senior Secured Loans primarily in the form of European Pro Rata loan strips.

Harbourmaster closes Harbourmaster CLO 5 with Bear Stearns as arranger and bookrunner, a €750m cash flow CLO of senior secured leveraged loans.

Harbourmaster closes Harbourmaster CLO 5 with Bear Stearns as arranger and bookrunner, a €750m cash flow CLO of senior secured leveraged loans.

Harbourmaster closes Harbourmaster CLO 4 with Bear Stearns as arranger, a €510m cash flow CLO of senior secured leveraged loans.

Harbourmaster closes Harbourmaster CLO 3 with Bear Stearns as arranger, a €508m cash flow CLO of senior secured leveraged loans. The deal also contains a 20% ABS bucket.