Fortress Investment Group refinances two classes of FDF IV CDO notes

By Cady Vishniac

Detroit, Dec. 21 – FDF Management LLC Series IV plans to redeem its class B and D notes due 2036 and sell class B-R and D-R notes in a partial refinancing of a 2016 collateralized loan obligation deal, according to a release.

FDF IV Ltd./FDF IV LLC’s refinancing will be effective as of Dec. 22.

U.S. Bank NA is the trustee.

In the original offering from June 28, 2018, the CDO priced $480 million of 4.3% class A senior secured fixed-rate notes, $130 million of 4.7% class B senior secured fixed-rate notes, $50 million of 5.5% class C mezzanine secured deferrable fixed-rate notes, $50 million of 6.35% class D mezzanine secured deferrable fixed-rate notes and subordinated notes. The notes were issued with a maturity date of July 26, 2036.

Fortress Investment Group is a New York City-based investment firm.

FDF is an affiliate of Fortress Investment Group LLC.

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