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CVC Cordatus to redeem nine classes of notes at par on July 21
By Angela McDaniels
Tacoma, Wash., June 19 CVC Cordatus Loan Fund V Ltd. will redeem in full nine classes of notes on July 21, according to a notice to bondholders.
The issuer will fund the redemption with the proceeds of a refinancing.
The redemption applies to the issuers class A-1 notes, class A-2 notes, class A-3 notes, class B-1 notes, class B-2 notes, class C notes, class D notes, class E notes and class F notes.
The redemption price is 100% of the principal amount outstanding plus accrued interest. Holders of the class C notes, the class D notes, the class E notes and the class F notes will also receive deferred interest, if applicable.
In connection with the redemption, the subordinated noteholders plan to pass a resolution prior to the redemption date in order to amend certain terms of the trust deed, including the maturity date of the notes.
CVC Credit Partners Group Ltd. is the collateral manager.
In the CLO, the issuer priced 264.74 million of class A-1 senior secured floating-rate notes at Euribor plus 130 basis points, 5.27 million of 1.5% class A-2 senior secured fixed-rate notes, 36.87 million of class B-1 senior secured floating-rate notes at Euribor plus 200 bps, 12.64 million of 2.4% class B-2 senior secured fixed-rate notes, 27 million of class C senior secured deferrable floating-rate notes at Euribor plus 290 bps priced at 99.35, 25.25 million of class D senior secured deferrable floating-rate notes at Euribor plus 355 bps priced at 98.64, 28.75 million of class E senior secured deferrable floating-rate notes at Euribor plus 500 bps priced at 95.58 and 15.15 million of class F senior secured deferrable floating-rate notes at Euribor plus 650 bps priced at 91.37.
The deal also included 47.8 million of subordinated notes.
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