Barclays pushes back deadline as it aims to buy a 2005 CLO

Barclays has extended the deadline for its bid to buy up notes in ACA CLO 2005-1. The bank had originally given the deal’s noteholders up until Friday 17 February to consider its offer – see Barclays submits offers for a 2005 CLO. In an effort to execute its plan swiftly Barclays had even tabled an early tender price for the deal’s notes, although this now appears to have been unsuccessful.

The tender offer is subject to certain conditions, namely that at least $4 million of equity notes are tendered first. The new deadline for the offers to be accepted has now been pushed back to Wednesday 29 February.