ECP CLO 2013-5 directed to redeem rated notes in whole on Sept. 14

By Sarah Lizee

Olympia, Wash., Aug. 28 – ECP CLO 2013-5, Ltd./ECP CLO 2013-5 LLC received direction from a majority of its subordinated noteholders to redeem its rated notes in whole from sale proceeds and other available funds, according to a notice.

The following notes will be redeemed on Sept. 14 at par plus accrued interest:

• $16,378,543.60 of class A-1 notes for a redemption price of $16,468,161.53;

• $42.8 million of class A-2 notes for a redemption price of $43,072,802.44;

• $28.8 million of class B notes for a redemption price of $29,028,368;

• $20 million of class C notes for a redemption price of $20,181,922.22;

• $19.5 million of class D notes for a redemption price of $19,698,607.50; and

• $8 million of class E notes for a redemption price of $8,095,168.89.

The subordinated notes will not be redeemed on the redemption date.

Bank of New York Mellon Trust Co., NA is the trustee.

Stamford, Conn.-based Silvermine Capital Management LLC is the collateral manager.

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