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Dryden VIII is a $459 million collateralized loan obligation and is the seventh Dryden CLO. The Dryden VIII portfolio is invested mainly in U.S. leveraged bank loans. Dryden VIII includes a fixed-rate security allocation of up to 7.5%. Further, up to 10% of the portfolio may be invested in a combination of non-secured loans, bonds and structured products.
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| Closing Date |
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June 16, 2005 |
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| Effective Date |
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September 15, 2005 |
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| Distribution Dates |
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February 22, May 22, August 22 and November 22 |
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| End of Non-Call Period |
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August 22, 2009 |
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| End of Reinvestment Period |
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August 22, 2011 |
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| Maturity Date |
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May 22, 2017 |
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Type
Cash Flow CLO
Underwriter
Merrill Lynch
Rating Agencies
Moody’s, S&P
Trustee
Deutsche Bank
Portfolio Manager
Joe Lemanowicz
CDO Analyst
Edwin Wilches
+1 973 367 3447
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Tranche |
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Initial Ratings |
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Current Ratings |
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Principal Amount ($) |
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Factor |
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Interest Rate |
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Class A Notes |
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Aaa/AAA |
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Aa1/AA+ |
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343,000,000 |
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0.9884 |
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3M LIBOR + 0.25% |
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Class B Notes |
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Aa2/AA |
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A2/AA |
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11,500,000 |
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1.0000 |
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3M LIBOR + 0.40% |
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Class C Notes |
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A2/A |
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Baa3/A |
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24,100,000 |
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1.0000 |
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3M LIBOR + 0.72% |
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Class D Notes |
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Baa2/BBB |
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Ba3/BBB |
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22,900,000 |
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1.0000 |
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3M LIBOR + 1.75% |
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Preferred Shares |
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NR |
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NR |
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57,400,000 |
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1.0000 |
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Excess Interest |
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Total |
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458,900,000 |
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