ACIS CLO 2013-1 calls off redemption for secured, combination notes

By Tali Rackner

Minneapolis, Oct. 16 – ACIS CLO 2013-1 Ltd. and ACIS CLO 2013-1 LLC withdrew their optional redemption for eight classes of secured notes and some combination notes, according to a notice from trustee U.S. Bank NA.

The notes were scheduled to be redeemed on Oct. 18 at the following redemption prices:

• $148,101,446 for the class A-1 notes;

• $101,636,302 for the class A-2A notes;

• $10,327,368 for the class A-2B notes;

• $58,270,370 for the class B notes;

• $36,912,310 for the class C notes;

• $21,818,876 for the class D notes;

• $19,844,030 for the class E notes;

• $10,199,426 for the class F notes; and

• $28,986,097 for the combination notes.

The transaction would have been funded with refinancing proceeds at the direction of the holders of more than 66 2/3% of the subordinated notes.

The portfolio manager determined in consultation with the subordinated noteholders that ACIS CLO 2013-1 is unable to effect the refinancing on terms acceptable to the portfolio manager and the subordinated noteholders.

Dallas-based ACIS Capital Management, LP is the portfolio manager.

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