Benefit Street Partners CLO IV to refinance four classes of notes

By Sarah Lizee

Olympia, Wash., April 10 – Benefit Street Partners CLO IV, Ltd./Benefit Street Partners CLO IV LLC received direction from holders of a supermajority of its subordinated notes and its portfolio manager to redeem four classes of notes through a refinancing, according to a notice.

The notes will be redeemed on April 22 at par plus accrued interest for the following redemption prices:

• $308,241,387.50 for the class A-1-R notes;

• $65,781,787.50 for the class A-2-R notes;

• $41,580,252.50 for the class B-R notes; and

• $27,459,742.50 for the class C-R notes.

Benefit plans to issue the following new notes and use the proceeds for the redemption:

• $305 million of class A-1-RR notes due 2029;

• $65 million of class A-2-RR notes due 2029;

• $41 million of class B-RR notes due 2029; and

• $27 million of class C-RR notes due 2029.

U.S. Bank NA is the trustee.

New York-based Benefit Street Partners, LLC is the portfolio manager.

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