Chicago, May 20 – Eaton Vance Management refinanced the ranked notes from its 2019 CLO transaction that lists Eaton Vance CLO 2019-1 Ltd./Eaton Vance CLO 2019-1, LLC as co-issuers, according to a notice and a supplemental indenture.
The notes mature April 15, 2031.
The refinancing involves the $260 million of class A-R senior secured floating-rate notes at Libor plus 110 basis points, $44 million of class B-R senior secured floating-rate notes at Libor plus 165 bps, $24 million of class C-R senior secured deferrable floating-rate notes at Libor plus 230 bps, $24 million of class D-R senior secured deferrable floating-rate notes at Libor plus 350 bps, $12 million of class E-R secured deferrable floating-rate notes at Libor plus 650 bps and $8 million of class F secured deferrable floating-rate notes at Libor plus 825 bps.
There are still $33.1 million of subordinated notes outstanding.
Eaton Vance will manage the collateral through the reinvestment period.
Collateral comes primarily from broadly syndicated senior secured corporate loans.
The refinancing initial purchaser, like the original transaction, is Wells Fargo Securities, LLC.
The non-call period has been extended to May 17, 2022 for the refinancing notes.
Boston-based Eaton Vance Management is a subsidiary of Eaton Vance Corp.
| Issuers: | Eaton Vance CLO 2019-1 Ltd./Eaton Vance CLO 2019-1, LLC
|
| Issue: | Floating-rate notes
|
| Amount: | $372 million
|
| Maturity: | April 15, 2031
|
| Structure: | Cash flow CLO
|
| Placement agent: | Wells Fargo Securities. LLC
|
| Manager: | Eaton Vance Management
|
| Call feature: | May 17, 2022
|
| Settlement date: | May 17
|
|
|
| Class A-R notes
|
| Amount: | $260 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 110 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-R notes
|
| Amount: | $44 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 165 bps
|
| Rating: | Moody's: Aa1
|
|
|
| Class C-R notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 230 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D-R notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 350 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class E-R notes
|
| Amount: | $12 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 650 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Class F notes
|
| Amount: | $8 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 825 bps
|
| Rating: | Moody's: B2
|
© 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.
