CELF Low Levered Partners solicits consents for three series of notes

By Jennifer Chiou

New York, March 23 - CELF Low Levered Partners plc announced the start of a consent solicitation for its €30 million of class D-1 subordinated notes due 2024, €15 million of class E zero-coupon notes due 2024 and €10 million of class F zero-coupon notes due 2024.

The Dublin-based fund is seeking consents from holders of two-thirds of each series of notes to, among other things, resolve via an extraordinary resolution that:

• CELF is required to redeem on April 5 the class D proportion of the class E and F notes;

• The 10-day notification requirement for any redemption is waived;

• A downgrade of the class D-1 notes may occur; and

• The trustee is fully discharged and exonerated from all liability under all notes series.

Consents are due by 1 p.m. ET on March 29.

Deutsche Trustee Co. Ltd. is the trustee.

The low levered fund invests in below investment-grade debt.

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