Washington Mill CLO to issue $406.25 million of notes via refinancing

By Tali Rackner

Norfolk, Va., Feb. 27 – Washington Mill CLO Ltd. and Washington Mill CLO LLC plan to issue $406.25 million of notes in five classes via a refinancing, according to a notice from trustee U.S. Bank NA.

Washington Mill will issue $295 million of class A-1-R senior floating-rate notes, $18.75 million of class A-2-R senior fixed-rate notes, $48,125,000 of class B-1-R senior floating-rate notes, $18.75 million of class B-2-R senior fixed-rate notes and $25,625,000 of class C-R deferrable mezzanine floating-rate notes on March 17.

The notes will be used to redeem the existing class A-1, A-2, B-1, B-2 and C notes, which was directed on Feb. 15 by the holders of a majority of the subordinated notes.

Shenkman Capital Management, Inc. is the collateral manager.

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