BlueMountain Fuji EUR CLO III (Refinance): 30 May 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, acting through its Series A in its capacity as investment manager (“BlueMountain A”). 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 4 September 2018 (the Original Issue Date) BlueMountain Fuji EUR CLO III issued Class A-1 Senior Secured Floating Rate Notes due 2031, Class A-2 Senior Secured Fixed Rate Notes due 2031, Class B Senior Secured Floating Rate Notes due 2031, Class C Deferrable Mezzanine Floating Rate Notes due 2031, Class D Deferrable Mezzanine Floating Rate Notes due 2031, Class E Deferrable Junior Floating Rate Notes due 2031, Class F Deferrable Junior Floating Rate Notes due 2031, Class M Notes due 2031 and Subordinated Notes due 2031.
On or about 28 May 2021 (the 2021 Refinancing Date) the Issuer will refinance the Original Class A-1 Notes, the Original Class A-2 Notes, the Original Class B Notes, the Original Class C Notes and the Original Class D Notes.
The Refinancing Notes will be offered by the Issuer through Barclays Bank plc in its capacity as initial purchaser of the offering of such Refinancing Notes subject to prior sale.
EU Risk Retention: BlueMountain B intends to act as retention holder for the purposes of the Retention Requirements and will, for so long as any Class of Rated Notes remains outstanding, undertake to hold and retain, on an on-going 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.
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.