BlueMountain Fuji EUR CLO II (refinancing): 15 February 2021
The assets securing the Notes will consist predominantly of a portfolio of Secured Senior Loans, Secured Senior Bonds, Unsecured Senior Obligations, Second Lien Loans, Mezzanine Obligations and High Yield Bonds, and will be managed by BlueMountain Fuji Management, LLC. BlueMountain is the registered legal entity of which BlueMountain A is a series and therefore is considered to be the legal entity that is the “originator” for the purposes of the Securitisation Regulation Requirements.
On 28 June 2017 (the Original Issue Date) BlueMountain Fuji EUR CLO II issued Class A Senior Secured Floating Rate Notes due 2030, Class B Senior Secured Floating Rate Notes due 2030, Class C Mezzanine Deferrable Floating Rate Notes due 2030, Class D Mezzanine Deferrable Floating Rate Notes due 2030, Class E Junior Deferrable Floating Rate Notes due 2030, Class F Junior Deferrable Floating Rate Notes due 2030 and Subordinated Notes due 2030.
On or about 12 February 2021 (the 2021 Refinancing Date) the Issuer will refinance the Original Class A Notes, the Original Class B Notes, the Original Class C Notes and the Original Class D Notes. The Class E Notes, the Class F Notes and the Subordinated Notes (together, the Non-Refinanced Notes) were issued on the Original Issue Date and are not being offered pursuant to this transaction, although certain amendments will be made to the Class E Notes, the Class F Notes and the Subordinated Notes.
The Refinancing Notes will be offered by the Issuer through J.P. Morgan Securities plc in its capacity as placement agent of the offering of such Refinancing Notes subject to prior sale.
EU Risk Retention: BlueMountain will, for so long as any Class of Rated Notes remain outstanding, undertake (through BlueMountain B) to hold and retain, on an ongoing basis, a material net economic interest in the first loss tranche in accordance with paragraph 3(d) of Article 6 of each of the Retention Requirements, by way of holding Subordinated Notes with an aggregate Principal Amount Outstanding (multiplied by the price at which such Subordinated Notes were purchased by BlueMountain B), at any time, of not less than 5% of the Aggregate Collateral Balance, for the purposes of complying with each of the Retention Requirements as they apply as at the 2021 Refinancing Date.
US Risk Retention: Based on the LSTA Decision, no transaction party currently intends to obtain on the 2021 Refinancing Date and retain after the 2021 Refinancing Date any Notes for the purpose of satisfying the U.S. Risk Retention Rules nor will any transaction party seek to satisfy any other requirements set forth in the U.S. Risk Retention Rules.