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Arbour CLO III rated notes eyed for possible redemption by refinancing
By Wendy Van Sickle
Columbus, Ohio, Feb. 2 The directors of Arbour CLO II DAC intend to potentially redeem some or all classes of the issuers rated notes due 2029 by way of refinancing, according to a notice from the directors.
The directors proposed that some amendments be made to the transaction documents in order to effect the refinancing and requested that subordinated noteholders send details of their name and holdings to collateral manager Oaktree Capital Management (UK) LLP.
The rated notes include the following:
10 million of class A-1 senior secured fixed-rate notes;
230 million of class A-2 senior secured floating-rate notes;
25 million of class B-1 senior secured fixed-rate notes;
19 million of class B-2 senior secured floating-rate notes;
23 million of class C senior secured deferrable floating-rate notes;
23.5 million of class D senior secured deferrable floating-rate notes;
27.5 million of class E senior secured deferrable floating-rate notes; and
11.75 million of class F senior secured deferrable floating-rate notes.
The potential refinancing and related amendments are subject to a number of conditions, according to the notice.
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