Chicago, April 26 – PGIM Loan Originator Manager Ltd. again refinanced eight classes of notes from the Dryden 46 Euro CLO 2016 DAC transaction, according to a notice.
The CLO sold €170 million of class A-R-R senior secured floating-rate notes at Euribor plus 82 basis points, €100 million in a class A senior secured floating-rate loan at Euribor plus 82 bps, €22.3 million of class B-1-R-R senior secured floating-rate notes at Euribor plus 165 bps and €25 million of class B-2-R 2.05% senior secured fixed-rate notes.
There are also €27.7 million of class C-R-R mezzanine secured deferrable floating-rate notes at Euribor plus 250 bps, €31.9 million of class D-R-R mezzanine secured deferrable floating-rate notes at Euribor plus 370 bps, €24.5 million of class E-R mezzanine secured deferrable floating-rate notes at Euribor plus 621 bps and €16 million of class F-R mezzanine secured deferrable floating-rate notes at Euribor plus 851 bps.
There are still €54.11 million of subordinated notes which remain outstanding.
The maturity date has been extended to April 17, 2034.
PGIM Loan is still managing the collateral through the four-year reinvestment period.
Collateral comes from senior secured loans or senior secured bonds.
The issuer replaces the name of the previous issuer Dryden 46 Euro CLO 2016 BV.
PGIM is an investment management firm and part of Newark, N.J.-based Prudential Financial Inc.
| Issuer: | PGIM Loan Originator Manager Ltd.
|
| Issue: | Loan, floating-rate and fixed-rate notes
|
| Structure: | Cash flow CLO
|
| Amount: | €417.4 million
|
| Maturity: | April 17, 2034
|
| Manager: | PGIM Loan Originator Manager Ltd.
|
| Settlement date: | April 15
|
|
|
| Class A-R-R notes
|
| Amount: | €170 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 82 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A loan
|
| Amount: | €100 million
|
| Securities: | Senior secured floating-rate loan
|
| Coupon: | Euribor plus 82 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-1-R-R notes
|
| Amount: | €22.3 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 165 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class B-2-R notes
|
| Amount: | €25 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.05%
|
| Rating: | Moody's: Aa2
|
|
|
| Class C-R-R notes
|
| Amount: | €27.7 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 250 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D-R-R notes
|
| Amount: | €31.9 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 370 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class E-R notes
|
| Amount: | €24.5 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 621 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Class F-R notes
|
| Amount: | €16 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 851 bps
|
| Rating: | Moody's: B3
|
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