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(0) Kroll Bond Rating Agency UK Limited (KBRA) assigns preliminary ratings to five classes of notes to be issued by RRE 2 Loan Management DAC, a cash flow collateralised loan obligation (CLO) backed primarily by a diversified portfolio of Euro-denominated corporate loans and bonds. RRE 2 Loan Management DAC is managed by Redding Ridge Asset Management (UK) LLP ( RRAM UK or the collateral manager ). The CLO originally closed in June 2019. This transaction will reset the terms of the CLO, including the stated maturity, non-call period, reinvestment period, note interest rates and notional balances. Proceeds from the issuance of the new CLO notes will be used to redeem the outstanding notes in full and to purchase new assets (€100 million upsize). The CLO will have a 4.0-year reinvestment period and a 14.0-year legal final. The ratings reflect initial credit enhancement levels, coverage tests including par value and interest coverage tests, excess spread, and a reinvestm ....
Press release content from Business Wire. The AP news staff was not involved in its creation. KBRA Assigns Preliminary Ratings to RRE 2 Loan Management DAC May 13, 2021 GMT LONDON (BUSINESS WIRE) May 13, 2021 Kroll Bond Rating Agency UK Limited (KBRA) assigns preliminary ratings to five classes of notes to be issued by RRE 2 Loan Management DAC, a cash flow collateralised loan obligation (CLO) backed primarily by a diversified portfolio of Euro-denominated corporate loans and bonds. RRE 2 Loan Management DAC is managed by Redding Ridge Asset Management (UK) LLP (“RRAM UK” or the “collateral manager”). The CLO originally closed in June 2019. This transaction will reset the terms of the CLO, including the stated maturity, non-call period, reinvestment period, note interest rates and notional balances. Proceeds from the issuance of the new CLO notes will be used to redeem the outstanding notes in full and to purchase new assets (€100 million upsize). Th ....
(1) Kroll Bond Rating Agency UK Limited (KBRA) assigns preliminary ratings to five classes of notes to be issued by RRE 1 Loan Management DAC, a cash flow collateralised loan obligation (CLO) backed primarily by a diversified portfolio of Euro-denominated corporate loans and bonds. RRE 1 Loan Management DAC is managed by Redding Ridge Asset Management (UK) LLP ( RRAM UK or the collateral manager ). The CLO originally closed in April 2019. This transaction will reset the terms of the CLO, including the stated maturity, non-call period, reinvestment period, note interest rates and notional balances. Proceeds from the issuance of the new CLO notes will be used to redeem the outstanding notes in full and to purchase new assets (€150 million upsize). The CLO will have a 4.0-year reinvestment period and a 14.0-year legal final. The ratings reflect initial credit enhancement levels, coverage tests including par value and interest coverage tests, excess spread, and a reinvest ....