Contego CLO X (Refinance): 18 May 2024
The assets securing the Notes will primarily consist of a portfolio of Secured Senior Loans, Secured Senior Bonds, Unsecured Senior Obligations, Mezzanine Obligations, Second Lien Loans, Corporate Rescue Loans and High Yield Bonds and will be managed by Five Arrows Managers LLP, a Rothschild & Co group company and a wholly owned indirect subsidiary of Rothschild & Co SCA.
On 27 October 2022 (the Original Issue Date) Contego CLO X issued Class A Senior Secured Floating Rate Notes due 2036, Class B-1 Senior Secured Floating Rate Notes due 2036, Class B-2 Senior Secured Fixed Rate Notes 2036, Class C Senior Secured Deferrable Floating Rate Notes due 2036, Class D Senior Secured Deferrable Floating Rate Notes due 2036, Class E Senior Secured Deferrable Floating Rate Notes due 2036, Class F Senior Secured Deferrable Floating Rate Notes due 2036 and Subordinated Notes due 2036.
On 15 August 2023, the Issuer sold €15,000,000 of the Original Class F Notes. The sale proceeds of the Original Class F Sale were used to redeem €13,110,000 of the Existing Subordinated Notes, such that €18,890,000 of the Existing Subordinated Notes remain outstanding.
On or about 15 May 2024 (the re-issue Date) the Issuer will, subject to certain conditions, refinance in whole the Notes by issuing Class A-R Senior Secured Floating Rate Notes due 2038, Class B-1-R Senior Secured Floating Rate Notes due 2038, Class B-2-R Senior Secured Fixed Rate Notes 2038, Class C-R Senior Secured Deferrable Floating Rate Notes due 2038, Class D-R Senior Secured Deferrable Floating Rate Notes due 2038, Class E-R Senior Secured Deferrable Floating Rate Notes due 2038 and Class F-R Senior Secured Deferrable Floating Rate Notes due 2038. The Issuer will also issue additional Subordinated Notes due 2038, which shall form a single class of Subordinated Notes.
The Offered Notes are being offered by the Issuer through Barclays Bank PLC in its capacity as initial purchaser, co-arranger and co-placement agent for the Offered Notes, and Société Générale SA will act in its capacity as a co-arranger and a co-placement agent for the Offered Notes.
UK & EU Risk Retention: The Retention Holder (Five Arrows Global Loan Investments PLC) will acquire and hold the Additional Retention Notes and continue to retain the Original Issue Date Retention Notes.
US Risk Retention: The Retention Holder will retain the US Retained Interest in compliance with, and such that the US Retained Interest satisfies the requirements for retaining an “eligible horizontal residual interest” under, the US Risk Retention Rules.