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Dryden XVIII is a $425 million collateralized loan obligation that closed in October 2007. The Dryden XVIII portfolio is invested mainly in U.S. leveraged bank loans. Dryden XVIII includes a fixed-rate security allocation of up to 5%. Further, up to 10% of the portfolio may be invested in a combination of senior unsecured and second lien loans, with 5% limits on floating rate bonds and structured products.
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| Closing Date |
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October 11, 2007 |
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| Distribution Dates |
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January 25, April 25, July 25 and October 25 |
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| End of Non-Call Period |
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October 25, 2010 |
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| End of Reinvestment Period |
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October 25, 2013 |
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| Maturity Date |
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October 25, 2019 |
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Type
Cash Flow CLO
Underwriter
Wachovia
Rating Agencies
Moody’s, S&P
Trustee
Deutsche Bank
Portfolio Manager
Joe Lemanowicz
CDO Analyst
Renée Gallizzo
+1 973 802 4204
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Tranche |
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Initial Ratings |
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Current Ratings |
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Original Principal Amount ($) |
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Current Principal Amount ($) |
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Interest Rate |
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| |
Class A Loan |
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N/A |
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N/A |
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386,325,000 |
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379,409,923 |
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Confidential/Private |
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Class B Notes |
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Ba2/BB |
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C/positive/CCC- |
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14,000,000 |
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14,000,000 |
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3M LIBOR + 4.50% |
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Subordinated Notes |
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NR |
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NR |
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26,455,000 |
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26,455,000 |
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Excess Interest |
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Total |
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|
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426,780,000 |
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419,864,923 |
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