Chicago, Feb. 24 – FDF V Management LLC refinanced three classes of notes for $112.67 million from the collateralized debt obligation issued by FDF V Ltd., according to a press release.
The notes still mature on Jan. 25, 2038.
The refinanced CDO notes are the f $66.5 million of class B-R 3.5% senior secured fixed-rate notes, $23.09 million of class C-R 1.7% mezzanine secured deferrable fixed-rate notes and $23.075 million of class C-R 1.95% mezzanine secured deferrable fixed-rate notes.
The $215 million class A notes at the top of the stack and the $133.8 million of subordinated notes will remain part of the transaction and outstanding, but were not part of the refinancing.
FDF V Management LLC will manage the collateral through the end of the reinvestment period.
Both the non-call period and the reinvestment period have been extended.
Natixis Securities Americas LLC was the placement agent.
FDF is an affiliate of Fortress Investment Group LLC.
Issuer: | FDF V Ltd.
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Issue: | Fixed-rate notes
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Amount: | $112.665 million
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Maturity: | Jan. 25, 2038
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Structure: | CDO
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Placement agent: | Natixis Securities Americas LLC
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Manager: | FDF V Management LLC
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Announcement date: | Jan. 25
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Class B-R notes
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Amount: | $66.5 million
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Securities: | Senior secured fixed-rate notes
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Coupon: | 3.5%
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Rating: | Moody's: Aa2
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Class C-R notes
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Amount: | $23.09 million
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Securities: | Mezzanine secured deferrable fixed-rate notes
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Coupon: | 1.7%
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Rating: | Moody's: A2
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Class C-R notes
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Amount: | $23.075 million
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Securities: | Mezzanine secured deferrable fixed-rate notes
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Coupon: | 1.95%
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Rating: | Moody's: Baa2
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