 |
|
Dryden VII is a $429 million collateralized loan obligation and was the second Dryden CDO to close in 2004. The Dryden VII portfolio is invested mainly in U.S. leveraged bank loans. Dryden VII includes a fixed-rate security allocation of up to 10%. Further, up to 10% of the portfolio may be invested in a combination of non-secured loans, bonds and structured products.
|
|
| Closing Date |
|
July 22, 2004 |
|
| Effective Date |
|
October 25, 2004 |
|
| Distribution Dates |
|
March 17, June 17, September 17 and December 17 |
|
| End of Non-Call Period |
|
September 17, 2008 |
|
| End of Reinvestment Period |
|
September 17, 2009 |
|
| Maturity Date |
|
September 17, 2016 |
|
|
|
|
Type
Cash Flow CLO
Underwriter
Bear Stearns
Rating Agencies
Moody’s, S&P
Trustee
Deutsche Bank
Portfolio Manager
Joe Lemanowicz
CDO Analyst
Edwin Wilches
+1 973 367 3447
|
| |
Tranche |
|
Initial Ratings |
|
Current Ratings |
|
Principal Amount ($) |
|
Factor |
|
Interest Rate |
|
|
| |
Class A-1L Notes |
|
Aaa/AAA |
|
Aa2/AA+ |
|
126,500,000 |
|
0.7766 |
|
3M LIBOR + 0.36% |
|
|
| |
Class A-1LA Notes |
|
Aaa/AAA |
|
Aaa/AAA |
|
150,000,000 |
|
0.7208 |
|
3M LIBOR + 0.31% |
|
|
| |
Class A-1LB Notes |
|
Aa1/AAA |
|
Aa3/AA |
|
37,500,000 |
|
1.0000 |
|
3M LIBOR + 0.56% |
|
|
|
| |
Class A-2L Notes |
|
Aa2/AA |
|
A3/AA |
|
26,000,000 |
|
1.0000 |
|
3M LIBOR + 0.67% |
|
|
| |
Class A-3F Notes |
|
A2/A |
|
Ba1/A |
|
22,000,000 |
|
1.0000 |
|
5.925% |
|
|
| |
Class B-1L Notes |
|
Baa2/BBB |
|
Caa1/BBB- |
|
22,000,000 |
|
1.0000 |
|
3M LIBOR + 2.30% |
|
|
|
| |
Class B-2L Notes |
|
Ba2/BB |
|
Ca/B+ |
|
7,500,000 |
|
1.0000 |
|
3M LIBOR + 6.25% |
|
|
| |
Preferred Shares |
|
NR |
|
NR |
|
37,600,000 |
|
1.0000 |
|
Excess Interest |
|
|
|
|
|
Total |
|
|
|
|
|
429,100,000 |
|
|
|
|
|
|
|
|
|
 |
|
