Barings Euro CLO 2020-1 DAC (2nd Refinance): 24 October 2025
The assets securing the Notes will consist of a portfolio of predominantly Secured Senior Obligations, Secured Senior Notes, Unsecured Senior Obligations, Second Lien Loans, Mezzanine Obligations and High Yield Bonds, and will be managed by Barings (UK) Limited.
On 5 November 2020 (the Original Issue Date) the Issuer issued €279,000,000 Class A Senior Secured Floating Rate Notes due 2033, Class B-1 Senior Secured Floating Rate Notes due 2033, Class B-2 Senior Secured Fixed Rate Notes due 2033, Class C-1 Senior Secured Deferrable Floating Rate Notes due 2033, Class C-2 Senior Secured Deferrable Fixed Rate Notes due 2033, Class D Senior Secured Deferrable Floating Rate Notes due 2033, Class E Senior Secured Deferrable Floating Rate Notes due 2033, Class F Senior Secured Deferrable Floating Rate Notes due 2033 and Subordinated Notes due 2033.
On 18 November 2021 (the First Reset Issue Date) the Issuer refinanced the Original Rated 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, and made certain amendments to the Existing Subordinated Notes.
On or about 21 October 2025 (the Refinancing Date) the Issuer will, subject to the satisfaction of certain conditions, refinance the Refinanced Notes by issuing Class X Senior Secured Floating Rate Notes due 2038, Class A-R-R Senior Secured Floating Rate Notes due 2038, Class B-1-R-R Senior Secured Floating Rate Notes due 2038, Class B-2-R-R Senior Secured Fixed Rate Notes due 2038, Class C-R-R Senior Secured Deferrable Floating Rate Notes due 2038, Class D-R-R Senior Secured Deferrable Floating Rate Notes due 2038, Class E-R-R Senior Secured Deferrable Floating Rate Notes due 2038, Class F-R-R Senior Secured Deferrable Floating Rate Notes due 2038 and Subordinated Notes due 2038.
The Existing Subordinated Notes were issued on the Original Issue Date and amended on the First Reset Issue Date and are not being offered pursuant to this Offering. The Additional Subordinated Notes being offered pursuant to this Offering and the Existing Subordinated Notes shall form a single class of Subordinated Notes.