Avoca CLO XI PLC (Refinance 2024): 01 December 2024
The assets securing the Notes will consist primarily 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 5 June 2014 (the Original Issue Date) Avoca CLO XI issued Class A 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 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 26 May 2017 (the "2017 Refinancing Date") the Issuer refinanced the Notes by issuing Class X Senior Secured Floating Rate Notes due 2030, Class A-R Senior Secured Floating Rate Notes due 2030, Class B-1R Senior Secured Fixed Rate Notes due 2030, Class B-2R Senior Secured Floating Rate Notes due 2030, Class B-3R Senior Secured Floating Rate Notes due 2030, Class C-1R Deferrable Mezzanine Floating Rate Notes due 2030, Class C-2R 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 26 November 2019 (the "2019 Refinancing Date") the Issuer refinanced the 2017 Class A Notes and the 2017 Class B-1 Notes by issuing Class A-R-R Senior Secured Floating Rate Notes due 2030 and Class B-1R-R Senior Secured Fixed Rate Notes due 2030.
On or about 27 November 2024 (the re-issue Date) the Issuer will, subject to the satisfaction of certain conditions, refinance the Notes by issuing Class X-R Senior Secured Floating Rate Notes due 2038, Class A-R-R-R Senior Secured Floating Rate Notes due 2038, Class B-R-R-R Senior Secured Floating Rate Notes due 2038, Class C-R-R Deferrable Mezzanine Floating Rate Notes due 2038, Class D-R-R Deferrable Mezzanine Floating Rate Notes due 2038, Class E-R-R Deferrable Junior Floating Rate Notes due 2038 and Class F-R-R Deferrable Junior Floating Rate Notes due 2038.
The Subordinated Notes were issued on the Original Issue Date with a principal amount outstanding of €58,500,000 and are not being offered pursuant to this Offering.