Natixis prices €603M reset of RRE 1 Loan Management CLO for Redding Ridge

Natixis has priced the €602.54 million reset of the RRE 1 Loan Management CLO for Redding Ridge Asset Management.

Details are as follows:

The manager as originator will retain a horizontal strip to comply with European Union risk retention requirements.

The deal, which is expected to settle on April 15, sports a non-call period ending on Oct. 15, 2022, and a reinvestment period that ends on April 15, 2025. The weighted average life test is nine years, while the legal final maturity is April 15, 2035.

The original €451.8 million RRE 1 Loan Management CLO priced in March 2019 via BNP Paribas, with the class A-1 tranche of triple-A notes printing at 108.5 bps.