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Euro-Galaxy III CLO may refinance at subordinated noteholders behest
By Angela McDaniels
Tacoma, Wash., Dec. 2 Some of Euro-Galaxy III CLO BVs subordinated noteholders are exploring a refinancing in whole of the issuers rated notes on Jan. 17, according to a company filing with the London Stock Exchange.
In connection with the refinancing, the issuer understands that some amendments would be made to the transaction documents to take effect once the proposed refinancing is completed. These amendments would need to be approval by the holders of the subordinated notes.
PineBridge Investments Europe Ltd. is the collateral manager.
The CLO issue includes the following:
67 million of class A-1R senior secured variable funding notes due 2027;
94 million of class A-1 senior secured floating-rate notes due 2027;
40 million of class A-2 senior secured floating-rate notes due 2027;
19 million of class B-1 senior secured fixed-rate notes due 2027;
22.25 million of class B-2 senior secured floating-rate notes due 2027;
7.75 million of class C-1 senior secured deferrable fixed-rate notes due 2027;
11.25 million of class C-2 senior secured deferrable floating-rate notes due 2027;
6.75 million of class D-1 senior secured deferrable fixed-rate notes due 2027;
7.75 million of class D-2 senior secured deferrable floating-rate notes due 2027;
20.75 million of class E senior secured deferrable floating-rate notes due 2027; and
38.5 million of subordinated notes due 2027.
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