Dryden 66 Euro CLO 2018 DAC (2nd Refinance): 03 August 2025
The assets securing the Notes will consist primarily of a portfolio of Collateral Debt Obligations consisting at the time of acquisition of predominantly Senior Secured Loans, Senior Secured Bonds, Corporate Rescue Obligations, Unsecured Senior Obligations, Second Lien Loans, Mezzanine Obligations, High Yield Bonds and Loss Mitigation Obligations managed by (i) prior to the Issue Date, and (ii) from and including the Issue Date, both PGIM Loan Originator Manager Limited and PGIM Limited.
On 18 December 2018 (the Original Issue Date) Dryden 66 Euro CLO 2018 issued Class A Senior Secured Floating Rate Notes due 2032, Class B-1 Senior Secured Floating Rate Notes due 2032, Class B-2 Senior Secured Fixed Rate Notes due 2032, Class C Mezzanine Secured Deferrable Floating Rate Notes due 2032, Class D Mezzanine Secured Deferrable Floating Rate Notes due 2032, Class E Mezzanine Secured Deferrable Floating Rate Notes due 2032, Class F Mezzanine Secured Deferrable Floating Rate Notes due 2032 and Subordinated Notes due 2032.
On 30 December 2021 (the 2021 Refinancing Date) the Issuer refinanced the Notes by issuing Class A-R Senior Secured Floating Rate Notes due 2032, Class B-2-R Senior Secured Floating Rate Notes due 2032 and Class D-R Mezzanine Secured Floating Rate Notes due 2032.
On 30 July 2025 (the re-issue Date) the Issuer will, subject to certain conditions, refinance the Notes by issuing Class A-1-R Senior Secured Floating Rate Notes due 2038, Class A-2-R Senior Secured Floating Rate Notes due 2038, Class B-1-R Senior Secured Floating Rate Notes due 2038, Class B-2-R-R Senior Secured Fixed Rate Notes due 2038, Class C-R Mezzanine Secured Deferrable Floating Rate Notes due 2038, Class D-R-R Mezzanine Secured Deferrable Floating Rate Notes due 2038, Class E-R Mezzanine Secured Deferrable Floating Rate Notes due 2038 and Class F-R Mezzanine Secured Deferrable Floating Rate Notes due 2038.
The Issuer will also issue additional Subordinated Notes due 2038 and, following such issuance, the Exchanged Subordinated Notes with an aggregate principal amount outstanding of €78,640,000 will be exchanged on or around the Issue Date for €39,320,000 of new Subordinated Notes.