Euro-Galaxy III CLO (Refinancing - 2021): 27 March 2021
The assets securing the Notes will consist primarily of a portfolio of Secured Senior Loans, Secured Senior Bonds, Corporate Rescue Loans, Unsecured Senior Obligations, Mezzanine Obligations, Second Lien Loans, High Yield Bonds, PIK Obligations and Bridge Loans, and will be managed by PineBridge Investments Europe Limited.
On 17 December 2013 (the Original Issue Date), Euro-Galaxy III CLO issued Class A-1R Senior Secured Variable Funding Notes due 2027, Class A-1 Senior Secured Floating Rate Notes due 2027, Class A-2 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-1 Senior Secured Deferrable Fixed Rate Notes due 2027, Class C-2 Senior Secured Deferrable Floating Rate Notes due 2027, Class D-1 Senior Secured Deferrable Fixed Rate Notes due 2027, Class D-2 Senior Secured Deferrable Floating Rate Notes due 2027, Class E Senior Secured Deferrable Floating Rate Notes due 2027 and Subordinated Notes due 2027.
On 17 January 2017 (the 2017 Refinancing Date), the Original Issuer refinanced the 2013 Original Notes by issuing Class A-R Senior Secured Variable Funding Notes due 2031, Class A Senior Secured Floating Rate Notes due 2031, Class B-1 Senior Secured Fixed Rate Notes due 2031, Class B-2 Senior Secured Floating Rate Notes due 2031, Class C Senior Secured Deferrable Floating Rate Notes due 2031, Class D Senior Secured Deferrable Floating Rate Notes due 2031, Class E Senior Secured Deferrable Floating Rate Notes due 2031 and Class F Senior Secured Deferrable Floating Rate Notes due 2031. In addition, the maturity date of the Existing Subordinated Notes was extended on the 2017 Refinancing Date to 17 January 2031.
On 24 September 2019 (the 2019 Refinancing Date), the Original Issuer refinanced the 2017 Refinanced Notes by issuing Class A-R-R Senior Secured Variable Funding Notes due 2031, Class A-R Senior Secured Floating Rate Notes due 2031, Class B-1-R Senior Secured Fixed Rate Notes due 2031, Class B-2-R Senior Secured Floating Rate Notes due 2031, Class C-R Senior Secured Deferrable Floating Rate Notes due 2031, Class D-R Senior Secured Deferrable Floating Rate Notes due 2031, Class E-R Senior Secured Deferrable Floating Rate Notes due 2031 and Class F-R Senior Secured Deferrable Floating Rate Notes due 2031. The terms and conditions applicable to the Existing Subordinated Notes were amended to reflect the Conditions of the Notes as set out in the Original Trust Deed as amended and supplemented by the 2019 Supplemental Trust Deed.
The Issuer will issue on or about 24 March 2021 Class A Senior Secured Floating Rate Notes due 2034, Class B-1 Senior Secured Fixed Rate Notes due 2034, Class B-2 Senior Secured Floating Rate Notes due 2034, Class C Senior Secured Deferrable Floating Rate Notes due 2034, Class D Senior Secured Deferrable Floating Rate Notes due 2034, Class E Senior Secured Deferrable Floating Rate Notes due 2034 and Class F Senior Secured Deferrable Floating Rate Notes due 2034. The Issuer will also issue additional Subordinated Notes due 2034, which shall form a single class of Subordinated Notes.
The Offered Notes will be offered by the Issuer through Credit Suisse Securities (Europe) Limited in its capacity as initial purchaser of the offering of such Offered Notes subject to prior sale.
UK & EU Risk Retention: The Collateral Manager shall act as the Retention Holder for the purposes of the EU/UK Retention Requirements and will undertake to retain, on an ongoing basis for so long as any Class of Notes remains outstanding, a material net economic interest of not less than 5% of the nominal value of each Class of the Offered Notes.
US Risk Retention: As a result of the LSTA Decision, no party intends to retain a risk retention interest contemplated by the U.S. Risk Retention Rules.