Harvest CLO XI DAC (3rd Reissue): 28 May 2021
The assets securing the 2021 Refinancing Notes will consist (and the assets securing the Original Notes consist) of a portfolio of Senior Secured Loans, Senior Secured Bonds, Second Lien Loans, Unsecured Senior Obligations, Mezzanine Obligations, PIK Securities, Corporate Rescue Loans, Bridge Loans and High Yield Bonds, being managed by Investcorp Credit Management EU Limited.
The Original Issue Date was 26 March 2015, and on 26 June 2017 the Issuer refinanced the Original Notes by issuing Class A-R Senior Secured Floating Rate Notes due 2030, Class B-1-R Senior Secured Floating Rate Notes due 2030, Class B-2-R Senior Secured Fixed Rate Notes due 2030, Class B-3-R Senior Secured Floating Rate Notes due 2030, Class C-R Senior Secured Deferrable Floating Rate Notes due 2030, Class D-R Senior Secured Deferrable Floating Rate Notes due 2030, Class E-R Senior Secured Deferrable Floating Rate Notes due 2030 and Class F-R Senior Secured Deferrable Floating Rate Notes due 2030.
On or about 25 May 2021 the Issuer will, subject to certain conditions, refinance the 2017 Class A Notes by issuing Class A-R Senior Secured Floating Rate Notes due 2030.
The 2021 Refinanced Notes are being offered by the Issuer through Jefferies International Limited, in its capacity as Arranger and Placement Agent subject to prior sale.
EU & UK Risk Retention: The Portfolio Manager shall act as the Retention Holder for the purposes of the EU/UK Retention and Transparency Requirements as "originator" and shall hold (either directly or indirectly) and retain, on an ongoing basis for as long as a Class of Notes remains outstanding, Subordinated Notes which were issued on the Original Issue Date, being an amount equal to or greater than 5% of the Maximum Par Amount in accordance with Article 6(3)(d) of each of the EU Securitisation Regulation and UK Securitisation Regulation.
US Risk Retention : As a result of the LSTA Decision, no party expects to have any obligation with respect to this transaction to act in accordance with the various restrictions in the U.S. Risk Retention Rules.