Clydesdale Strategic asks holders to OK investment manager change

By Jennifer Chiou

New York, Oct. 4 - Clydesdale Strategic CLO I, Ltd. announced that it is looking for noteholder consent to change the investment manager of several series of its notes.

Nomura Corporate Research and Asset Management Inc. is the current investment manager, and if the change is approved, it will assign its rights and duties to Ares CLO Management XVIII, LP.

In order to make the change, consents are needed from the holders of a majority of the company's subordinated notes with ISIN USG22292AB59.

The company also needs a waiver from the holders of its class A-1 notes, class A-2 notes, class B notes, class C-1 notes, class C-2 notes and class D notes.

The waiver will allow the investment manager to make the change without giving advance notice to the holders of these notes and waives the rights of the holders of a majority of the notes to object within 15 days after the notice of the change.

Noteholders have until 5 p.m. ET on Nov. 8 to return their ballots.

Questions may be directed to Jim McMahon of the Bank of New York Mellon Trust Co., NA at 412 234-3782 or jim.r.mcmahon@bnymellon.com.

Clydesdale Strategic CLO I, Inc. is a co-issuer of the notes.

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