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Dryden IX is a $554 million collateralized loan obligation and is structured as a low-levered fund. The Dryden IX portfolio is invested mainly in U.S. and European leveraged bank loans. Dryden IX includes an allocation to fixed-rate securities and mezzanine loans of up to 10%. Further, up to 5% of the portfolio may be invested in structured products.
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| Closing Date |
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October 26, 2005 |
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| Effective Date |
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October 4, 2006 |
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| Distribution Dates |
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March 20, June 20, September 20 and December 20 |
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| End of Non-Call Period |
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December 20, 2007 |
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| End of Reinvestment Period |
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September 8, 2012 |
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| Maturity Date |
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September 20, 2019 |
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Type
Low-Levered
Cash Flow CLO
Underwriter
UBS
Rating Agencies
Moody’s, S&P
Trustee
Bank of New York
Portfolio Manager
Joe Lemanowicz
CDO Analyst
Michael Niosi
+1 973 367 2378
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Tranche |
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Initial Ratings |
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Current Ratings |
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Principal Amount (€) |
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Principal Amount ($) |
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Interest Rate |
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Class A-1 Notes |
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Aaa/AAA |
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Aa2/AA+ |
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0 |
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262,500,000 |
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3M LIBOR + 0.265% |
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Class A-2 Notes |
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Aaa/AAA |
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Aa2/AA+ |
|
115,100,000 |
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139,098,350 |
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3M EURIBOR + 0.265% |
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|
| |
Class B-1 Notes |
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A2/A |
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Ba1/A- |
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0 |
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34,100,000 |
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3M LIBOR + 0.75% |
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|
|
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Class B-2 Notes |
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A2/A |
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Ba1/A- |
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3,400,000 |
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4,108,900 |
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3M EURIBOR + 0.75% |
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Class B-3 Notes |
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A2/A |
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Ba1/A- |
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2,700,000 |
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3,262,950 |
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3M EURIBOR + 0.75% |
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|
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Dollar Fund Notes |
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Ba2/BB |
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Caa1/BB |
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0 |
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74,150,000 |
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Excess Interest |
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Euro Fund Notes |
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Ba2/BB |
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Caa1/BB |
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30,300,000 |
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36,617,550 |
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Excess Interest |
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Total |
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553,837,750 |
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