Euro-Galaxy III CLO collateral manager mulls refinancing rated notes

By Wendy Van Sickle

Columbus, Ohio, Aug. 1 – Euro-Galaxy III CLO BV has been informed by the collateral manager that some subordinated noteholders are assessing options that may result in an optional redemption by refinancing of some or all of its rated notes due 2031, according to a filing with the London Stock Exchange.

As previously reported, in December of 2016, the issuer sold €67 million of class A-R-R variable funding notes at Euribor plus 102 basis points; €153 million of class A-R floating-rate notes at Euribor plus 102 bps; €38.5 million of class B-1-R floating-rate notes at Euribor plus 160 bps; €9.5 million of 1.83% class B-2-R fixed-rate notes; €23.3 million of class C-R floating-rate notes at Euribor plus 240 bps; €20 million of class D-R floating-rate notes at Euribor plus 365 bps; €23.5 million of class E-R floating-rate notes at Euribor plus 625 bps and €8.4 million of class F-R floating-rate notes at Euribor plus 792.

PineBridge Investments Europe is the collateral manger. It is an affiliate of New York City-based asset management firm PineBridge Investments LLC.

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