Citi has priced the €279.125 million refinancing of Man GLG Euro CLO VI for GLG Partners.
Details are as follows:
The deal, which is expected to settle Feb. 8, has a non-call period that has been extended to Feb. 8, 2023, and an unchanged reinvestment period ending April 15, 2022. The legal final maturity is Oct. 15, 2032.
The €352.78 million CLO originally priced in February 2020, just prior to the COVID-19-related disruption of the market, and carried a one-year non-call and two-year reinvestment period. Prior to the refinancing, the class A-1, B-1, B-2 and D notes paid coupons of 90 basis points, 180 bps, 2.05% and 365 bps, respectively.