Presale: Mercator CLO II PLC Dec 06

  • ID: 1781941
  • December 2006
  • Standard & Poors
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Standard & Poor's Ratings Services has assigned preliminary credit ratings to the €369.5 million floating-rate notes to be issued by Mercator CLO II PLC. At the same time, Mercator CLO II will issue €42.5 million of subordinated, unrated notes. Mercator CLO II is a bankruptcy-remote, public limited company, which was incorporated on June 14, 2006, under the laws of Ireland. Its only purposes are to acquire the portfolio, issue the notes, and engage in certain related transactions. At closing, Mercator CLO II will issue the notes, the proceeds of which, net of any upfront costs and expenses, will be used to acquire a portfolio of senior secured loans, second-lien loans, mezzanine loans, senior secured bonds, and synthetic securities (see chart...

Companies mentioned in this report are:
- Mercator CLO II PLC

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

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- Mercator CLO II PLC

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