Avoca CLO XI PLC (Refinance 2019): 01 December 2019
The assets securing the Notes consist primarily of a portfolio of Senior Loans, Secured Senior Bonds, Corporate Rescue Loans, Mezzanine Obligations and High Yield Bonds managed by KKR Credit Advisors (Ireland) Unlimited Company (formerly Avoca Capital Holdings).
On 5 June 2014 (the Original Issue Date) Avoca CLO XI issued Class A Senior Secured Floating Rate Notes due 2027, Class B-1 Senior Secured Fixed Rate Notes due 2027, Class B-2 Senior Secured Floating Rate Notes due 2027, Class C Deferrable Mezzanine Floating Rate Notes due 2027, Class D Deferrable Mezzanine Floating Rate Notes due 2027, Class E Deferrable Junior Floating Rate Notes due 2027, Class F Deferrable Junior Floating Rate Notes due 2027 and Subordinated Notes due 2027.
On 26 May 2017 (the 2017 Refinancing Date), the Issuer refinanced the Notes by issuing Class X Senior Secured Floating Rate Notes due 2030, Class A-R Senior Secured Floating Rate Notes due 2030, Class B-1R Senior Secured Fixed Rate Notes due 2030, Class B-2R Senior Secured Floating Rate Notes due 2030, Class B-3R Senior Secured Floating Rate Notes due 2030, Class C-1R Deferrable Mezzanine Floating Rate Notes due 2030, Class C-2R Deferrable Mezzanine Floating Rate Notes due 2030, Class D-R Deferrable Mezzanine Floating Rate Notes due 2030, Class E-R Deferrable Junior Floating Rate Notes due 2030 and Class F-R Deferrable Junior Floating Rate Notes due 2030.
On or about 26 November 2019 (the 2019 Refinancing Date) the Issuer will, subject to certain conditions, refinance the 2017 Class A Notes and the 2017 Class B-1 Notes by issuing Class A-R-R Senior Secured Floating Rate Notes due 2030 and Class B-1R-R Senior Secured Fixed Rate Notes due 2030.
The 2017 Refinanced Notes will be redeemed in full and certain amendments shall be made to the Class B-2 Notes, the Class B-3 Notes, the Class C Notes, the Class D Notes, the Class E Notes, the Class F Notes and the Subordinated Notes on the 2019 Refinancing Date from the proceeds of the issue of the 2019 Refinancing Notes