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Dryden 62 Euro CLO 2017: 16 July 2018


This cash-flow CLO transaction will be the thirteenth European CLO to be managed by PGIM Limited since 2013. The CLO will be backed by a portfolio of mainly non-investment-grade broadly syndicated loans and other assets.

The transaction will feature a non-call period until June 2020, and will have a re-investment period which ends in January 2023.

CLO Max-Min limits: The CLO must hold a minimum of 92.5% senior secured obligations; fixed rate assets - 10% (Min) / 20% (Max); DIP Loans - 5% (2% single borrower); Participations – 10%; Non-European obligations – 20%.