Investor opts for partial redemption in UK project finance CLO

An investor in Adriana Infrastructure CLO 2008-1 has decided to take up the CLO’s partial redemption option, according to a regulatory announcement. The investor holds a £90 million ($140 million) senior position in the deal and once this is redeemed the CLO will have an outstanding balance of £725 million.

Adriana Infrastructure CLO 2008-1 is a project finance transaction which is backed by UK public-private partnership infrastructure loans extended mainly to schools and hospitals. The CLO was arranged by NIBC and is also managed by the bank.