Chicago, May 12 – Redding Ridge Asset Management (UK) LLP sold €392.68 million in a collateralized loan obligation issued by RRE 15 Loan Management DAC, according to an offering document.
The notes will mature on Oct. 15, 2035.
The CLO consists of €238 million of class A-1 senior secured floating-rate notes at Euribor plus 175 basis points, €31.5 million of class A-2A senior secured floating-rate notes at Euribor plus 295 bps, €12.5 million of class A-2B 6.3% senior secured fixed-rate notes, €26 million of class B-1 senior secured deferrable floating-rate notes at Euribor plus 350 bps, €4 million of class B-2 senior secured deferrable floating-rate notes at Euribor plus 470 bps, €25 million of class C senior secured deferrable floating-rate notes at Euribor plus 500 bps, €15 million of class D senior secured deferrable floating-rate notes at Euribor plus 740 bps, €1 million of performance notes, €250,000 of preferred return notes and €39.425 million of subordinated notes.
Redding Ridge Asset Management (UK) LLP will manage the collateral through the end of the reinvestment period on Oct. 15, 2027.
Collateral for the notes consists of senior loans, senior secured bonds, mezzanine obligations, second-lien loans and high-yield bonds.
The notes can be called starting Sept. 23, 2024.
Goldman Sachs International was the sole arranger and lead placement agent with Apollo Management International LLP as co-placement agent.
The London-based firm is part of Redding Ridge Asset Management, LLC, a New York City-based asset management company established in 2016 by Apollo Global Management, LLC.
| Issuer: | RRE 15 Loan Management DAC
|
| Issue: | Floating-rate notes, fixed-rate notes, performance notes, preferred return notes and subordinated notes
|
| Amount: | €392.675 million
|
| Maturity: | Oct. 15, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs International (sole arranger and lead placement agent), Apollo Management International LLP (co-placement agent)
|
| Manager: | Redding Ridge Asset Management (UK) LLP
|
| Call feature: | Sept. 23, 2024
|
| Pricing date: | March 21
|
| Settlement date: | March 23
|
|
|
| Class A-1 notes
|
| Amount: | €238 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 175 bps
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
| KBRA: AAA
|
|
|
| Class A-2A notes
|
| Amount: | €31.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 295 bps
|
| Rating: | S&P: AA
|
| Fitch: AA
|
| KBRA: AA
|
|
|
| Class A-2B notes
|
| Amount: | €12.5 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6.3%
|
| Rating: | S&P: AA
|
| Fitch: AA
|
| KBRA: AA
|
|
|
| Class B-1 notes
|
| Amount: | €26 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 350 bps
|
| Rating: | S&P: A+
|
| Fitch: A+
|
| KBRA: A+
|
|
|
| Class B-2 notes
|
| Amount: | €4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 470 bps
|
| Rating: | S&P: A
|
| Fitch: A
|
| KBRA: A
|
|
|
| Class C notes
|
| Amount: | €25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 500 bps
|
| Rating: | S&P: BBB
|
| Fitch: BBB
|
| KBRA: BBB
|
|
|
| Class D notes
|
| Amount: | €15 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 740 bps
|
| Rating: | S&P: BB-
|
| Fitch: BB-
|
| KBRA: BB-
|
|
|
| Performance notes
|
| Amount: | €1 million
|
| Securities: | Senior secured floating-rate notes
|
|
|
| Preferred return notes
|
| Amount: | €250,000
|
| Securities: | Senior secured floating-rate notes
|
|
|
| Subordinated notes
|
| Amount: | €39.425 million
|
| Securities: | Subordinated notes
|
|
|
© 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.
