Octagon Investment Partners XXI soliciting consents for refinancing

By Tali Rackner

Norfolk, Va., Oct. 28 – Octagon Investment Partners XXI, Ltd./Octagon Investment Partners XXI, LLC began a consent solicitation seeking to make changes to their note indenture that would allow the notes to be refinanced, according to a notice from trustee U.S. Bank, NA.

Holders representing a majority of the issuers’ subordinated notes directed the issuer to redeem the following notes on Nov. 14 by issuing refinancing notes:

• $159 million of class A-1A notes plus accrued interest for a total redemption price of $159,919,183.42;

• $322.2 million of class A-1B notes plus accrued interest for a total redemption price of $323,940,479.65;

• $81.2 million of class A-2 notes plus accrued interest for a total redemption price of $81,860,307.12; and

• $43.1 million of class B notes plus accrued interest for a total redemption price of $43,537,640.99.

The issuer is asking holders of the subordinated notes to consent to a supplemental indenture that includes the following changes:

• Establishes certain terms of the replacement notes;

• Amends certain existing definitions affected by the replacement notes; and

• Sets forth certain new definitions relating to the replacement notes.

The deadline to submit consents is 5 p.m. ET on Nov. 10.

Questions may be directed to U.S Bank (Attn: Mark Sullivan. 617 603-6487 or mark.sullivan@usbank.com).

Octagon Credit Investors, LLC manages the CLO.

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