Chicago, Oct. 31 – Carlyle Global Market Strategies Euro CLO 2013-1 BV, which had intended to refinance several classes of notes, is moving ahead with only the class A-1-R senior secured floating-rate notes (Aaa) in the Oct. 30 refinancing, according to a market source.
The €236 million of A-1-R senior secured floating-rate notes (Aaa) will come with a coupon of Euribor plus 66 basis points. The spread was expected at Euribor plus 70 bps.
The portfolio continues to include:
• €56 million of class A-2-R floating-rate notes (Aa2);
• €24 million of class B-R floating-rate notes (A2);
• €23 million of class C-R floating-rate notes (Baa2);
• €20 million of class D-R floating-rate notes (Ba2);
• €10 million of class E-R floating-rate notes (B2);
• €24.5 million class S-1 subordinated notes;
• €17.5 million class S-2 subordinated notes; and
• €4.2 million class S-3 subordinated notes.
This is the second refinancing of the class A-1-R notes due 2030. The notes were originally refinanced on Feb. 15, 2017. The original closing date of the portfolio was June 17, 2013.
London-based CELF Advisors LLP is the collateral manager. It is part of Washington, D.C.-based Carlyle Group LP.
| Issuer: | Carlyle Global Market Strategies Euro CLO 2013-1 BV
|
| Amount: | €236 million refinancing
|
| Maturity: | April 15, 2030
|
| Securities: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Deutsche Bank AG, London Branch
|
| Manager: | CELF Advisors LLP
|
| Settlement date: | Oct. 30
|
|
|
| Class A-1-R notes
|
| Amount: | €236 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 66 bps
|
| Rating: | Moody’s: Aaa
|
© 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.
