Penta CLO 5 (refinancing): 27 February 2021
The assets securing the Notes will consist of a portfolio of primarily Senior Obligations, Mezzanine Obligations and High Yield Bonds, and will be managed by Partners Group (UK) Management Ltd.
On 20 December 2018 (the Original Issue Date) Penta CLO 5 issued Class X Senior Secured Floating Rate Notes due 2032, Class A-1 Senior Secured Floating Rate Notes due 2032, Class A-2 Senior Secured Floating Rate Notes due 2032, Class B-1 Senior Secured Floating Rate Notes due 2032, Class B-2 Senior Secured Fixed Rate Notes due 2032, Class C Senior Secured Deferrable Floating Rate Notes due 2032, Class D Senior Secured Deferrable Floating Rate Notes due 2032, Class E Senior Secured Deferrable Floating Rate Notes due 2032, Class F Senior Secured Deferrable Floating Rate Notes due 2032 and Subordinated Notes due 2032.
On or about 25 February 2021 (the re-issue Date) the Issuer will, subject to certain conditions, refinance Notes by issuing Class X Senior Secured Floating Rate Notes due 2035, Class A Senior Secured Floating Rate Notes due 2035, Class B-1 Senior Secured Floating Rate Notes due 2035, Class B-2 Senior Secured Fixed Rate Notes due 2035, Class C Senior Secured Deferrable Floating Rate Notes due 2035, Class D Senior Secured Deferrable Floating Rate Notes due 2035, Class E Senior Secured Deferrable Floating Rate Notes due 2035 and Class F Senior Secured Deferrable Floating Rate Notes due 2035, and will issue an additional €1,800,000 Additional Subordinated Notes due 2035 which, together with the Existing Subordinated Notes, shall form a single class of Subordinated Notes.
The Offered Notes will be issued at a maximum issue price of 100% of the principal amount thereof. The Offered Notes are being offered by the Issuer through BNP Paribas or an affiliate thereof in its capacity as initial purchaser for the offering.
EU Risk Retention: In accordance with the Retention Requirements, the Originator has acquired and has held and will continue to hold on an ongoing basis, for so long as any Class of Notes remains outstanding, Subordinated Notes with an aggregate purchase price representing equal to or greater than 5% of the greater of the Maximum Par Amount and the Collateral Principal Amount on the relevant date of determination.
US Risk Retention: The Originator does not intend to purchase or retain Notes for the purposes of satisfying the U.S. Risk Retention Rules and instead it intends to use the “Safe harbor for certain foreign related transactions” contained in Section __.20 of the U.S. Risk Retention Rules.