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Aqueduct European CLO 1-2017 (refinancing): 06 March 2021


The assets securing the Refinancing Notes will consist, and the assets securing the Original Notes consist, of a portfolio of primarily Senior Obligations, Mezzanine Obligations and High Yield Bonds, and will be managed by HPS Investment Partners CLO (UK) LLP.

On 29 June 2017 (the Original Issue Date) Aqueduct European CLO 1-2017 issued Class A Senior Secured Floating Rate Notes due 2030, Class B Senior Secured Floating Rate Notes due 2030, Class C Senior Secured Deferrable Floating Rate Notes due 2030, Class D Senior Secured Deferrable Floating Rate Notes due 2030, Class E Senior Secured Deferrable Floating Rate Notes due 2030, Class F Senior Secured Deferrable Floating Rate Notes due 2030, Class M-1 Subordinated Notes due 2030, Class M-2 Subordinated Notes due 2030 and Class M-3 Subordinated Notes due 2030.

On or about 3 March 2021 (the Refinancing Date) the Issuer will, subject to certain conditions, redeem the Refinanced Notes by issuing Class A Senior Secured Floating Rate Notes due 2030, Class B Senior Secured Floating Rate Notes due 2030, Class C Senior Secured Deferrable Floating Rate Notes due 2030, and Class D Senior Secured Deferrable Floating Rate Notes due 2030. The Original Class E Notes, Class F Notes and the Subordinated Notes were issued on the Original Issue Date and are not being offered pursuant to this transaction, but the terms and conditions applicable to such Original Notes will be amended in accordance with the Terms and Conditions of the Notes outlined in the Offering Circular.

The Refinancing Notes are being offered by the Issuer through Goldman Sachs International in its capacity as placement agent of the Refinancing Notes subject to prior sale.


EU & UK Risk Retention: In accordance with the EU/UK Retention Requirements, the Collateral Manager (in its capacity as Retention Holder) will undertake, for so long as any Notes are outstanding, to purchase and retain, for its own account, a material net economic interest in the transaction comprising not less than 5% of the Principal Amount Outstanding of each Class of Notes within the meaning of Articles 6(1) and 6(3)(a) of the Securitisation Regulation for the purposes of satisfying the EU/UK Retention Requirements.