By Cristal Cody
Tupelo, Miss., Nov. 21 – Oak Hill Advisors (Europe), LLP priced €260.8 million of notes due Feb. 21, 2030 in a refinancing of one tranche from a vintage 2017 euro-denominated collateralized loan obligation transaction, according to a market source.
Oak Hill European Credit Partners V DAC priced the class A-1-R senior secured floating-rate notes (Aaa//AAA) at Euribor plus 71 basis points.
The notes were originally issued Jan. 25, 2017 at Euribor plus 96 bps.
Morgan Stanley & Co. International plc was the refinancing placement agent.
The CLO notes are backed primarily by euro-denominated senior secured loans or senior secured bonds.
Proceeds were used to redeem the original class A-1 notes.
Oak Hill Advisors (Europe) is a credit manager based in London.
| Issuer: | Oak Hill European Credit Partners V DAC
|
| Amount: | €260.8 million refinancing
|
| Maturity: | Feb. 21, 2030
|
| Securities: | Senior secured floating-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | Morgan Stanley & Co. International plc
|
| Manager: | Oak Hill Advisors (Europe), LLP
|
| Coupon: | Euribor plus 71 bps
|
| Ratings: | Moody’s: Aaa
|
| Fitch: AAA
|
| Settlement date: | Nov. 21
|
| Distribution: | Rule 144A and Regulation S
|
© 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.
