Chicago, June 21 – Northwoods European CLO Management, LLC refinanced the rated notes from the collateralized loan obligation transaction issued by Northwoods Capital 21 Euro DAC for €396 million, according to a notice.
The maturity date is July 24, 2034.
The refinancing notes are the €222 million of class A-1 senior secured floating-rate notes at Euribor plus 87 basis points, €30 million of class A-2 senior secured floating-rate notes at Euribor plus 115 bps, €31.5 million of class B-1 senior secured floating-rate notes at Euribor plus 155 bps and €15 million of class B-2 2% senior secured fixed-rate notes.
There are also €32.5 million of class C mezzanine secured deferrable floating-rate notes at Euribor plus 210 bps, €27.5 million of class D mezzanine secured deferrable floating-rate notes at Euribor plus 325 bps, €21.5 million of class E mezzanine secured deferrable floating-rate notes at Euribor plus 606 bps and €16 million of class F mezzanine secured deferrable floating-rate notes at Euribor plus 863 bps.
There are €28.7 million of the original €34.8 million subordinated notes outstanding.
The reinvestment period has been extended 4.5 years.
Most of the collateral comes from senior secured obligations.
Northwoods European CLO Management is a subsidiary of New York-based alternative investment manager Angelo, Gordon & Co., LP.
| Issuer: | Northwoods Capital 21 Euro DAC
|
| Issue: | Floating-rate notes and fixed-rate notes
|
| Amount: | €396 million
|
| Maturity: | July 24, 2034
|
| Structure: | Cash flow CLO
|
| Manager: | Northwoods European CLO Management, LLC
|
| Settlement date: | June 16
|
|
|
| Class A-1 notes
|
| Amount: | €222 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 87 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | €30 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 115 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-1 notes
|
| Amount: | €31.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 155 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class B-2 notes
|
| Amount: | €15 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2%
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | €32.5 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 210 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
|
| Amount: | €27.5 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 325 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
|
| Amount: | €21.5 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 606 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Class F notes
|
| Amount: | €16 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 863 bps
|
| Rating: | Moody's: B3
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
