Telos CLO 2014-6 pulls call notice for class E notes, seeks to amend

By Susanna Moon

Chicago, April 12 – Telos CLO 2014-6, Ltd. as issuer and Telos CLO 2014-6, LLC as co-issuer withdrew the redemption notice for its class E notes.

The issuer will refinance the class A-1 notes, the class A-2 notes, the class B-1 notes, the class B-2 notes, the class C notes and the class D notes as scheduled, according to a notice from trustee U.S. Bank, NA.

Separately, the issuer is seeking to amend the various classes of notes as well as some subordinated notes, with a refinancing date of April 17, according to a notice.

As noted, Telos plans to refinance its the class A-1, A-2, B-1, B-2, C and D notes with the issue of numerous classes of notes on April 17 as follows:

• $161.5 million of class A-1-R senior secured floating-rate notes (Aaa (sf)/AAA (sf)/);

• $60 million of class A-2-R senior secured fixed-rate notes (Aaa (sf)/AAA (sf)/);

• $8 million of class B-1-R senior secured floating-rate notes (/AA (sf)/);

• $34 million of class B-2-R senior secured fixed-rate notes (/AA (sf)/);

• $22 million of class C-R mezzanine secured deferrable floating-rate notes (/A (sf)/);

• $20.5 million of class D-R mezzanine secured deferrable floating-rate notes (/BBB (sf)/); and

• $16.5 million of class E-R mezzanine secured deferrable floating-rate notes (/BB (sf)/).

Houston-based Virtus Group, LP is the collateral administrator.

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