Chicago, March 8 – Ellington CLO Management LLC is refinancing the B-2R class of notes from the Ellington CLO I, Ltd./Ellington CLO I LLC collateralized loan obligation, according to a release.
Ellington is selling $22.6 million of 2.58% class B-2R senior secured fixed-rate notes due Oct. 15, 2029.
Collateral for the notes is primarily broadly syndicated senior secured corporate loans.
Three other classes of secured notes and the subordinated notes from the earlier transaction will remain outstanding.
The original transaction dates to June 2017, and the CLO was refinanced in August 2018.
Ellington CLO Management is an affiliate of Old Greenwich, Conn.-based Ellington Management Group, LLC.
| Issuers: | Ellington CLO I, Ltd./Ellington CLO I LLC
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| Amount: | $22.6 million
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| Maturity: | Oct. 15, 2029
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| Securities: | Fixed-rate notes
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| Structure: | Cash flow CLO
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| Manager: | Ellington CLO Management LLC
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| Announcement date: | March 8
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| Class B-2R notes
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| Amount: | $22.6 million
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| Securities: | Senior secured fixed-rate notes
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| Coupon: | 2.58%
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| Rating: | Moody’s: Aa1
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