Chicago, Feb. 18 – GLG Partners LP refinanced for €279.125 million four classes of notes from the collateralized loan obligation issued by Man GLG Euro CLO VI DAC, according to a press release and details of the listing.
The notes will mature on Oct. 15, 2032.
The refinanced notes from the CLO consist of €217 million of class A senior secured floating-rate notes at Euribor plus 81 basis points, €33.235 million of class B-1 senior secured floating-rate notes at Euribor plus 170 bps, €5.265 million of class B-2 1.97% senior secured deferrable fixed-rate notes and €23.625 million of class D deferrable mezzanine floating-rate notes at Euribor plus 350 bps.
GLG Partners LP will manage the collateral through the end of the unchanged reinvestment period on April 15, 2022.
Backing the notes is a portfolio comprised of senior secured loans, senior secured bonds, senior obligations, mezzanine obligations, high-yield bonds, corporate rescue loans and second-lien loans.
Citigroup Global Markets Ltd. was the placement agent.
The alternative asset manager is based in London.
| Issuer: | Man GLG Euro CLO VI DAC
|
| Issue: | Floating-rate notes and fixed-rate notes
|
| Amount: | €279.125 million
|
| Maturity: | Oct. 15, 2032
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Ltd.
|
| Manager: | GLG Partners LP
|
| Settlement date: | Feb. 7
|
|
|
| Class A notes
|
| Amount: | €217 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 81 bps
|
| Price: | Par
|
| Rating: | Moody's: Aaa
|
| S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €33.235 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 170 bps
|
| Price: | Par
|
| Rating: | Moody's: Aa2
|
| S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | €5.265 million
|
| Securities: | Senior secured deferrable fixed-rate notes
|
| Coupon: | 1.97%
|
| Price: | Par
|
| Rating: | Moody's: Aa2
|
| S&P: AA
|
|
|
| Class D notes
|
| Amount: | €23.625 million
|
| Securities: | Deferrable mezzanine floating-rate notes
|
| Coupon: | Euribor plus 350 bps
|
| Price: | Par
|
| Rating: | Moody's: Baa3
|
| S&P: BBB
|
© 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.
