Arbour CLO IV Ltd (2nd Refinancing): 27 March 2021
The assets securing the Notes will consist of a portfolio of primarily Senior Loans, Secured Senior Bonds, Mezzanine Obligations and High Yield Bonds, and will be managed by Oaktree Capital Management (UK) LLP.
On 11 November 2016 (the Original Issue Date) Arbour CLO IV issued Class A-1 Senior Secured Fixed Rate Notes due 2030, Class A-2 Senior Secured Floating Rate Notes due 2030, Class B Senior Secured 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, Class F Senior Secured Deferrable Floating Rate Notes due 2030 and Subordinated Notes due 2030.
On 6 June 2019 (the 2019 Refinancing Date) the Issuer refinanced the Original Class A Notes, the Original Class B Notes, the Original Class C Notes and the Original Class D Notes. The Original Class E Notes, the Class Original F Notes and the Subordinated Notes remained outstanding.
On 26 March 2021 (the 2021 Refinancing Date) the Issuer will, subject to certain conditions, refinance the Notes by issuing Class A-R Senior Secured Floating Rate Notes due 2034, Class B-R Senior Secured Floating Rate Notes due 2034, Class C-R Senior Secured Deferrable Floating Rate Notes due 2034, Class D-R Senior Secured Deferrable Floating Rate Notes due 2034, Class E-R Senior Secured Deferrable Floating Rate Notes due 2034 and Class F-R Senior Secured Deferrable Floating Rate Notes due 2034. The Subordinated Notes shall not be re-financed, and remain outstanding.
The Offered Notes are being offered by the Issuer through J.P. Morgan Securities plc or an affiliate thereof in its capacity as placement agent for the offering of such Notes subject to prior sale.
RU Risk Retention: The Collateral Manager (Oaktree Capital Management (UK) LLP) shall act as Retention Holder for the purposes of the Retention Requirements and will undertake to hold and retain a material net economic interest in the transaction, which will be comprised of a first loss tranche by holding in its own name and on its own account on an ongoing basis for so long as any Class of Notes remains outstanding, Subordinated Notes with a Principal Amount Outstanding such that the aggregate purchase price thereof equals no less than 5% of the Target Par Retention Amount.