Euro-Galaxy III CLO noteholders want issuer to refinance rated notes

By Rebecca Melvin

New York, Aug. 9 – Euro-Galaxy III CLO BV has been informed by the collateral manager that some subordinated noteholders want the issuer to redeem by way of refinancing some or all of its rated notes due 2031, according to a filing with the London Stock Exchange.

Additional notices and/or documentation will be provided as required by the transaction documents.

As previously reported, in December of 2016, the issuer sold €67 million of class A-R-R variable funding notes at Euribor plus 102 basis points; €153 million of class A-R floating-rate notes at Euribor plus 102 bps; €38.5 million of class B-1-R floating-rate notes at Euribor plus 160 bps; €9.5 million of 1.83% class B-2-R fixed-rate notes; €23.3 million of class C-R floating-rate notes at Euribor plus 240 bps; €20 million of class D-R floating-rate notes at Euribor plus 365 bps; €23.5 million of class E-R floating-rate notes at Euribor plus 625 bps and €8.4 million of class F-R floating-rate notes at Euribor plus 792.

PineBridge Investments Europe is the collateral manger. It is an affiliate of New York City-based asset management firm PineBridge Investments LLC.

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