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Carlyle approved to reduce spread on Euro CLO 2013-1 class A notes
New York, Aug. 10 Carlyle Global Market Strategies Euro CLO 2013-1 BV received written consent from the holder of its 210 million class A senior secured floating-rate notes due 2025 to make changes to those notes, including reducing the interest rate.
The floaters will now pay an interest rate margin of 115 basis points starting from the Aug. 17 payment date, a reduction of 15 bps, according to a notice from the issuer.
The holder also approved the disenfranchising of the class A notes solely for the purposes of voting on resolutions to remove the collateral manager and to appoint a successor collateral manager.
The CLO announced the proposed amendments on July 29.
State Street Bank and Trust Co. is the trustee, and CELF Advisors LLP is the collateral manager.
Carlyle Group LP is an asset management firm based in Washington, D.C.
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