Oaktree CLO 2014-2 plans to refinance $412.5 million of secured notes

By Tali Rackner

Norfolk, Va., Feb. 21 – Oaktree CLO 2014-2 Ltd. and Oaktree CLO 2014-2 LLC received written direction from the holders of a majority of their subordinated notes to effect an optional redemption of five classes of notes via a refinancing, according to a notice from trustee Bank of New York Mellon Trust Co., NA.

The following will be refinanced at par plus accrued interest on March 3:

• $280 million of class A-1A notes, for a total redemption price of $280,836,302.60;

• $27 million of class A-1B notes, for a total redemption price of $27,119,808.75;

• $61 million of class A-2A notes, for a total redemption price of $61,222,759.50;

• $17 million of class A-2B notes, for a total redemption price of $17,095,314.28; and

• $27.5 million of class B notes, for a total redemption price of $27,629,299.36.

The issuers plan to issue $280 million of class A-1AR notes (Aaa/AAA)/), $27 million of class A-1BR notes (Aaa/AAA/), $61 million of class A-2AR notes (/AA/), $17 million of class A-2BR notes (/AA/) and $27.5 million of class B notes (/A/) to replace the existing notes.

Oaktree Capital Management is the collateral manager.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.