Presale: KINTYRE CLO I PLC Feb 07
Standard & Poors, February 2007
Abstract
Standard & Poor's Ratings Services has assigned preliminary credit ratings to the €313.25 million floating-rate notes to be issued by KINTYRE CLO I PLC. At the same time, KINTYRE will issue €36.75 million of unrated notes. KINTYRE is a bankruptcy-remote, public limited company, which was incorporated on October 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, KINTYRE 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 obligations, high-yield obligations, and synthetic securities (see chart below). The portfolio will be managed by Plemont Portfolio...
Companies mentioned in this report are:
- The Royal Bank of Scotland PLC
- Bank of New York Mellon (The)
- KINTYRE CLO I 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
- The Royal Bank of Scotland PLC
- Bank of New York Mellon (The)
- KINTYRE CLO I PLC
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