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PineBridge expects to do second refinancing on Euro-Galaxy III CLO
Chicago, Sept. 5 – PineBridge Investments Europe Ltd. will be conducting its second refinancing of Euro-Galaxy III CLO BV’s notes, according to a market source.
Eight classes of notes will be part of the refinancing.
As previously reported, subordinated noteholders exercised their option to direct a redemption through refinancing on Sept. 24.
The CLO features a remaining 1.25-year reinvestment period.
The maturity will still be Jan. 17, 2031, as it was as of the first refinancing.
Proceeds from the new notes will redeem the existing notes.
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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