Carlyle Euro CLO 2017-2 (refinancing): 11 March 2021
The assets securing the Notes will consist of a portfolio of primarily Senior Obligations, Mezzanine Obligations and High Yield Bonds, and will be managed by CELF Advisors LLP.
On 3 August 2017 (the Original Issue Date) Carlyle Euro CLO 2017-2 issued Class A-1 Senior Secured Floating Rate Notes due 2030, Class A-2-A Senior Secured Floating Rate Notes due 2030, Class A-2-B Senior Secured Floating Rate Notes due 2030, Class B Senior Secured Deferrable Floating Rate Notes due 2030, Class C Senior Secured Deferrable Floating Rate Notes due 2030, Class D Senior Secured Deferrable Floating Rate Notes due 2030, Class E Senior Secured Deferrable Floating Rate Notes due 2030 and Subordinated Notes due 2030.
On or about 9 March 2021 (the 2021 Refinancing Date) the Issuer will refinance the original notes by issuing Class A-1 Senior Secured Floating Rate Notes due 2030, Class A-2-A Senior Secured Floating Rate Notes due 2030 and Class A-2-B Senior Secured Floating Rate Notes due 2030. The original Class B Notes, Class C Notes, Class D Notes, Class E Notes and the Subordinated Notes have had certain amendments made to them.
EU Risk Retention: The Collateral Manager shall act as the Retention Holder and shall undertake to (i) subscribe for and retain, on an ongoing basis, for so long as any Notes are outstanding, a material net economic interest of not less than 5% of the nominal value of each Class of the Refinancing Notes and (ii) retain, on an ongoing basis, for so long as any Notes are outstanding, a material net economic interest of not less than 5% of the nominal value of each of the Class B Notes, the Class C Notes, the Class D Notes, the Class E Notes and the Subordinated Notes issued on the Original Issue Date.
US Risk Retention: The Collateral Manager will satisfy the U.S. Risk Retention Rules by acquiring an eligible vertical interest equal to not less than 5% of the principal amount of each Class of Notes by retaining certain Non-Refinanced Notes it purchased on the Original Issue Date and by subscribing for and retaining certain Refinancing Notes issued by the Issuer on the 2021 Refinancing Date.