Chicago, Feb. 24 – FDF V Management LLC refinanced three classes of notes for $112.67 million from the collateralized debt obligation issued by FDF V Ltd., according to a press release.
The notes still mature on Jan. 25, 2038.
The refinanced CDO notes are the f $66.5 million of class B-R 3.5% senior secured fixed-rate notes, $23.09 million of class C-R 1.7% mezzanine secured deferrable fixed-rate notes and $23.075 million of class C-R 1.95% mezzanine secured deferrable fixed-rate notes.
The $215 million class A notes at the top of the stack and the $133.8 million of subordinated notes will remain part of the transaction and outstanding, but were not part of the refinancing.
FDF V Management LLC will manage the collateral through the end of the reinvestment period.
Both the non-call period and the reinvestment period have been extended.
Natixis Securities Americas LLC was the placement agent.
FDF is an affiliate of Fortress Investment Group LLC.
| Issuer: | FDF V Ltd.
|
| Issue: | Fixed-rate notes
|
| Amount: | $112.665 million
|
| Maturity: | Jan. 25, 2038
|
| Structure: | CDO
|
| Placement agent: | Natixis Securities Americas LLC
|
| Manager: | FDF V Management LLC
|
| Announcement date: | Jan. 25
|
|
|
| Class B-R notes
|
| Amount: | $66.5 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 3.5%
|
| Rating: | Moody's: Aa2
|
|
|
| Class C-R notes
|
| Amount: | $23.09 million
|
| Securities: | Mezzanine secured deferrable fixed-rate notes
|
| Coupon: | 1.7%
|
| Rating: | Moody's: A2
|
|
|
| Class C-R notes
|
| Amount: | $23.075 million
|
| Securities: | Mezzanine secured deferrable fixed-rate notes
|
| Coupon: | 1.95%
|
| Rating: | Moody's: Baa2
|
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