Hildene CLO II to issue $323.25 million of notes through refinancing

By Tali Rackner

Norfolk, Va., March 30 – Hildene CLO II Ltd./Hildene CLO II LLC intends to issue $323.25 million of three classes of notes via a refinancing, according to a notice from trustee Deutsche Bank Trust Co. Americas.

Hildene plans to issue $252 million of class A-R senior secured floating-rate notes (Aaa (sf)/AAAsf/), $49.25 million of class B-R senior secured floating-rate notes (at least Aa2 (sf)//) and $22 million of class C-R deferrable mezzanine floating notes (at least A2 (sf)//) on April 19.

Proceeds will be used to redeem the existing A, B-1, B-2 and C notes, as directed by a majority of the subordinated noteholders.

Stamford, Conn.-based Hildene Leveraged Credit, LLC manages the CLO.

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