Carlyle CLO 2016-3 directed to refinance class A-1, A-2, B, C notes

By Sarah Lizee

Olympia, Wash., Jan. 29 – Carlyle Global Market Strategies CLO 2016-3, Ltd./Carlyle Global Market Strategies CLO 2016-3, LLC received direction from holders of a majority of its subordinated notes and the collateral manager to redeem four classes of notes from refinancing proceeds, according to a notice.

The notes to be redeemed include the class A-1 (Cusips: 14311UAA6, G1912TAA2), class A-2 (Cusips: 14311UAC2, G1912TAB0), class B (Cusips: 14311UAE8, G1912TAC8) and class C (Cusips: 14311UAG3, G1912TAD6) notes.

No redemption date has been fixed at this time.

The refinancing notes will include $323 million of class A-1-R senior secured floating-rate notes due October 2029, $62 million of class A-2-R senior secured floating-rate notes due October 2029, $25 million of class B-R senior secured deferrable floating-rate notes due October 2029 and $30 million of class C-R mezzanine secured deferrable floating-rate notes due October 2029.

State Street Bank and Trust Co. is the trustee.

New York-based Carlyle GMS CLO Management LLC is the collateral manager.

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