Jubilee CLO 2013-X DAC (Refinance): 19 May 2021
The assets securing the Notes will consist predominantly of a portfolio of Secured Senior Loans, Secured Senior Bonds, Unsecured Senior Obligations, Mezzanine Obligations and High Yield Bonds, and will be managed by Alcentra Limited.
On 15 July 2013 (the Original Issue Date) Jubilee CLO 2013-X B.V issued Class A Senior Secured Floating Rate Notes due 2025, Class B Senior Secured Floating Rate Notes due 2025, Class C Senior Secured Deferrable Floating Rate Notes due 2025, Class D Senior Secured Deferrable Floating Rate Notes due 2025, Class E Senior Secured Deferrable Floating Rate Notes due 2025 and Subordinated Notes due 2025.
On 2 March 2017 (the 2017 Refinancing Date) the Original Issuer issued Class X Senior Secured Floating Rate Notes due 2031, Class A Senior Secured Floating Rate Notes due 2031, Class B-1 Senior Secured Floating Rate Notes due 2031, Class B-2 Senior Secured Floating Rate Notes due 2031, Class C-1 Senior Secured Deferrable Floating Rate Notes due 2031, Class C-2 Senior Secured Deferrable Floating Rate Notes due 2031, Class D Senior Secured Deferrable Floating Rate Notes due 2031, Class E Senior Secured Deferrable Floating Rate Notes due 2031 and Class F Senior Secured Deferrable Floating Rate Notes due 2031.
On or about 18 May 2021 the Issuer will, subject to the satisfaction of certain conditions, refinance in whole the 2017 Refinanced Rated Notes by issuing Class X Senior Secured Floating Rate Notes due 2034, Class A-1 Senior Secured Floating Rate Notes due 2034, Class A-2 Senior Secured Floating Rate Notes due 2034, Class B Senior Secured Floating Rate Notes due 2034, Class C Senior Secured Deferrable Floating Rate Notes due 2034, Class D Senior Secured Deferrable Floating Rate Notes due 2034, Class E Senior Secured Deferrable Floating Rate Notes due 2034 and Class F Senior Secured Deferrable Floating Rate Notes due 2034. The Issuer will also issue additional Subordinated Notes due 2034.
Note - The existing Subordinated Notes were issued on the Original Issue Date with a principal amount outstanding of €54,800,000 and are not being offered pursuant to the Offering Circular. The Additional Subordinated Notes being offered pursuant to the Offering Circular and the Existing Subordinated Notes issued on the Original Issue Date shall form a single class of Subordinated Notes.
The Refinancing Notes will be offered by the Issuer through Jefferies International Limited in its capacity as placement agent of the offering of such Refinancing Notes subject to prior sale.
EU & UK Risk Retention: The Retention Holder (Alcentra Limited) will undertake to acquire on the Issue Date and hold on an ongoing basis, for so long as any Class of Notes remains outstanding, a material net economic interest in the transaction in the form specified in Article 6(3)(a) of the EU/UK Securitisation Regulation as in force on the Issue Date, comprising not less than 5% of the Principal Amount Outstanding of each Class of Notes, for the purposes of compliance with the EU/UK Retention Requirements.
US Risk Retention: Based on the LSTA Decision, the Retention Holder does not intend to retain a risk retention interest contemplated by the U.S. Risk Retention Rules in connection with the transaction.