Source - RNS
RNS Number : 4762O
Carlyle Glbl Mrt Strt Eur CLO2016-1
17 May 2018
 

notice from the issuer to the noteholders regarding amended transaction documents

 

THIS NOTICE CONTAINS IMPORTANT INFORMATION OF INTEREST TO THE REGISTERED AND BENEFICIAL OWNERS OF THE NOTES (AS DEFINED BELOW). IF APPLICABLE, ALL DEPOSITARIES, CUSTODIANS AND OTHER INTERMEDIARIES RECEIVING THIS NOTICE ARE REQUESTED TO PASS THIS NOTICE TO SUCH BENEFICIAL OWNERS IN A TIMELY MANNER.

 

If you are in any doubt as to the action you should take, you are recommended to seek your own financial advice immediately from your stockbroker, bank manager, solicitor, accountant or other financial adviser authorised under the Financial Services and Markets Act 2000 (if you are in the United Kingdom), or from another appropriately authorised independent financial adviser and such other professional advice from your own professional advisors as you deem necessary.

 

This Notice is addressed only to holders of the Notes (as defined below) and persons to whom it may otherwise be lawful to distribute it ("relevant persons"). It is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this Notice relates is available only to relevant persons and will be engaged in only with relevant persons.

If you have recently sold or otherwise transferred your entire holding(s) of Notes referred to below, you should immediately forward this document to the purchaser or transferee or to the stockbroker, bank or other agent through whom the sale or transfer was effected for transmission to the purchaser or transferee.

THIS ANNOUNCEMENT MAY CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014

 

€246,000,000 Class A-1 Senior Secured Floating Rate Notes due 2029 in the form of

Class A-1 CM Removal and Replacement Voting Notes

(Reg S ISIN: XS1388786516 / Rule 114A ISIN: XS1388787084)

Class A-1 CM Removal and Replacement Non- Voting Notes

(Reg S ISIN: XS1388786607 / Rule 114A ISIN: XS1388787241)

Class A-1 CM Removal and Replacement Exchangeable Non-Voting Notes

(Reg S ISIN: XS1388786789 / Rule 114A ISIN: XS1388786862)

€43,000,000 Class A-2 Senior Secured Floating Rate Notes due 2029 in the form of

Class A-2 CM Removal and Replacement Voting Notes

(Reg S ISIN: XS1388787753 / Rule 114A ISIN: XS1388788215)

Class A-2 CM Removal and Replacement Non- Voting Notes

(Reg S ISIN: XS1388787837 / Rule 114A ISIN: XS1388789700)

Class A-2 CM Removal and Replacement Exchangeable Non-Voting Notes

(Reg S ISIN: XS1388789536 / Rule 114A ISIN: XS1388790039)

€24,000,000 Class B Senior Secured Deferrable Floating Rate Notes due 2029 in the form of

Class B CM Removal and Replacement Voting Notes

(Reg S ISIN: XS1388788058 / Rule 114A ISIN: XS1388788132)

Class B CM Removal and Replacement Non-Voting Notes

(Reg S ISIN: XS1388790898 / Rule 114A ISIN: XS1388791193)

Class B CM Removal and Replacement Exchangeable Non-Voting Notes

(Reg S ISIN: XS1388790971 / Rule 114A ISIN: XS1388788728)

€21,000,000 Class C Senior Secured Deferrable Floating Rate Notes due 2029 in the form of

Class C CM Removal and Replacement Voting Notes

(Reg S ISIN: XS1388789296 / Rule 114A ISIN: XS1388789619)

Class C CM Removal and Replacement Non-Voting Notes

(Reg S ISIN: XS1388789965 / Rule 114A ISIN: XS1388791433)

Class C CM Removal and Replacement Exchangeable Non-Voting Notes

(Reg S ISIN: XS1388789452 / Rule 114A ISIN: XS1388789882)

€24,000,000 Class D Senior Secured Deferrable Floating Rate Notes due 2029

(Reg S ISIN: XS1388791516 / Rule 114A ISIN: XS1388790203)

€30,000,000 Class S-1 Subordinated Notes due 2029

(Reg S ISIN: XS1388791607 / Rule 114A ISIN: XS1388790112)

€22,000,000 Class S-2 Subordinated Notes due 2029

(Reg S ISIN: XS1388790468 / Rule 114A ISIN: XS1388791789)

(the "Notes")

We refer to:

(a)          the trust deed dated 17 May 2016 (as amended, restated and/or supplemented from time to time) (the "Trust Deed") made between (amongst others) the Issuer and the Trustee, including the conditions of the Notes set out at Schedule 3 (Conditions of the Notes) to the Trust Deed (the "Conditions") pursuant to which the Notes were constituted on the terms and subject to the conditions contained therein.

(b)          the notices sent by the Issuer to the Noteholders dated 5 April 2018 and 30 April 2018 (the "Notice").

Capitalised terms used herein and not specifically defined will bear the same meanings as in the Conditions and the Notice as the context may require.

The Issuer hereby notifies each Noteholder that:

(1)        pursuant to Condition 7(j) (Notice of Redemption), the Rated Notes and the Class S-1 Subordinated Notes have been redeemed in accordance with Condition 7(b) (Optional Redemption) by way of Refinancing in whole;

(2)        pursuant to Condition 14(c) (Modification and Waiver), certain amendments were effected to each of the Transaction Documents in the form available for inspection at the registered office of the Issuer;

(3)        the Trustee has waived the condition set out in paragraph (5) of Condition 7(b)(v)(C) (Refinancing in relation to a Redemption in Whole), the requirement in Condition 7(b)(vii) (Mechanics of Redemption) for the funds required for the Relevant Refinancing to be deposited in the Payment Account on or before the Business Day prior to the applicable Redemption Date, the notice period requirements set out in Clause 11.12 (Notice of Redemption), Clause 11.16 (Approval of Notices) and Clause 27.1 (Waiver, Authorisation and Determination) of the Trust Deed and Condition 14(c) (Modification and Waiver) and the notification requirements set out in Clause 26.2 (Optional Redemption) of the Collateral Management and Administrative Agreement, pursuant to a waiver letter between the Issuer and the Trustee dated 10 May 2018; and

(4)        pursuant to Condition 14(b)(ix)(E) (Unanimous Resolution), certain amendments were effected to payments made pursuant to the Post-Acceleration Priority of Payments on 17 May 2018 pursuant to the terms of a Unanimous Resolution passed by the Class S-2 Subordinated Noteholders by way of a Written Resolution on 15 May 2018,

in each case on 17 May 2018.

This notice and any non-contractual obligations arising out of it shall be governed by and construed in accordance with English law.

CARLYLE GLOBAL MARKET STRATEGIES EURO CLO 2016-1 DESIGNATED ACTIVITY COMPANY

 

17 May 2018

 

Enquiries:

 

Carlyle Global Market Strategies Euro CLO 2016-1 Designated Activity Company

3rd Floor, Kilmore House

Park Lane, Spencer Dock

Dublin 1, Ireland

 

Attention:          The Directors

Facsimile:          +353 (0)1 614 6250

Telephone:        +353 (0)1 614 6240

Email:               [email protected]

 

 

 

 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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