Dryden 46 Euro CLO 2016 cancels redemption of three classes of notes

By Rebecca Melvin

New York, June 7 – Dryden 46 Euro CLO 2016 is withdrawing a previously announced refinancing redemption of its class B-2, class E and class F notes, according to a notice on Friday.

The notes were to be redeemed as part of a redemption notice to redeem all classes of secured notes in the collateralized loan obligation.

Redemption in full of the class A-1, class A-2, class B-1, class C and class D notes will proceed at 100% on June 12.

The notes no longer being redeemed due to precedent conditions not being met include:

• €12.87 million of class B-2 senior secured fixed-rate notes due 2030;

• €26.9 million of class E mezzanine secured deferrable floating-rate notes due 2030; and

• €13.28 million of class F mezzanine secured deferrable floating-rate notes due 2030.

U.S. Bank Trustees Ltd. is the trustee, and PGIM Ltd. is the collateral manager.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.