Euro-Galaxy V CLO sets refinancing terms via extraordinary resolution

Chicago, Jan. 21 – Euro-Galaxy V CLO DAC noteholders have passed an extraordinary resolution approving the refinancing terms for the CLO portfolio, according to a notice on Thursday.

The original trust deed for the notes is from Nov. 10, 2016.

The refinancing transaction is approved to close on Feb. 10 with a maturity date in February 2034.

An additional €3.7 million class of subordinated notes will be part of the transaction.

In terms of the refinancing notes

• The €248 million class A notes must be refinanced at Euribor plus 95 basis points or less and cannot be sold below par;

• The €38 million class B notes must be refinanced at Euribor plus 165 bps or less and cannot be sold below par;

• The €26 million class C notes must be refinanced at Euribor plus 255 bps or less and cannot be sold below par;

• The €26 million class D notes must be refinanced at Euribor plus 375 bps or less and cannot be sold below par;

• The €21.5 million class E notes must be refinanced at Euribor plus 605 bps or less and cannot be sold for less than 96;

• The €11.5 million class G notes must be refinanced at Euribor plus 900 bps or less and cannot be sold for less than 94; and

• The new €3.7 million subordinated notes cannot be sold for less than 52.

The non-call period on the refinanced notes will end May 15, 2022.

The reinvestment period will end Feb. 15, 2025.

Euro-Galaxy V CLO has offices in Dublin.

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