Cordusio RMBS Securitisation to redeem four classes of notes June 28

By Angela McDaniels

Tacoma, Wash., June 25 – Cordusio RMBS Securitisation Srl will redeem its €1,892,000,000 class A2, €45.7 million class B, €96 million class C and €10,688,351 class D residential mortgage-backed floating-rate notes due 2035 on June 28, according to a noteholder notice.

The issuer announced plans for the redemption on May 29 and has since received confirmation that it will have enough funds to make the redemption.

For the class A2, class B and class C notes, the redemption price will be the principal amount outstanding plus accrued interest up to the redemption date.

For the class D notes, the redemption price will be the lower of (a) the principal amount outstanding plus accrued interest (plus any additional interest amount and additional remuneration) and (b) the funds available to the issuer after payment of all other claims raking in priority to the notes.

As previously reported, the issuer’s €500 million class A had already been redeemed.

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