Avoca CLO XII DAC (2nd Refinance): 09 April 2021
The assets securing the Notes will consist of a portfolio of Senior Loans, Secured Senior Bonds, Corporate Rescue Loans, Mezzanine Obligations and High Yield Bonds, and will be managed by KKR Credit Advisors (Ireland) Unlimited Company.
On 17 September 2014 (the Original Issue Date) Avoca CLO XII issued Class A Senior Secured Floating Rate Notes due 2027, Class B 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 4 April 2017 (the 2017 Refinancing Date) the Issuer refinanced the Original Notes by issuing Class X Senior Secured Floating Rate Notes due 2030, Class A-1R Senior Secured Floating Rate Notes due 2030, Class A-2R Senior Secured Floating Rate Notes due 2030, Class B-R Senior Secured Floating Rate Notes due 2030, Class C-R 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 7 April 2021 (the re-issue Date) the Issuer will refinance the Refinanced Notes by issuing Class A-R-R Senior Secured Floating Rate Notes due 2034, Class B-1-R-R Senior Secured Floating Rate Notes due 2034, Class B-2-R-R Senior Secured Fixed/Floating Rate Notes due 2034, Class C-R-R Deferrable Mezzanine Floating Rate Notes due 2034, Class D-R-R Deferrable Mezzanine Floating Rate Notes due 2034, Class E-R-R Deferrable Junior Floating Rate Notes due 2034 and Class F-R-R Deferrable Junior Floating Rate Notes due 2034. The Issuer will also issue additional Subordinated Notes due 2034.
The Subordinated Notes were issued on the Original Issue Date with a principal amount outstanding of €47mln and are not being offered pursuant to the Offering Circular. The Additional Subordinated Notes being offered pursuant to the Offering Circular together with the Original Subordinated Notes issued on the Original Issue Date shall form a single class of Subordinated Notes.