Dryden 32 Euro CLO 2014 set to redeem rated notes due 2026 on Aug. 23

By Sarah Lizee

Olympia, Wash., July 12 – Dryden 32 Euro CLO 2014 BV received direction from a majority of its subordinated noteholders to redeem its rated notes in whole from refinancing proceeds, according to a notice.

The following will be redeemed on Aug. 23 at par plus accrued interest:

• €199.25 million of class A-1A-R senior secured floating-rate notes due 2026;

• €31 million of class A-1B-R senior secured fixed-rate notes due 2026;

• €18.42 million of class B-1A-R senior secured floating-rate notes due 2026;

• €31.58 million of class B-1B-R senior secured fixed-rate notes due 2026;

• €32 million of class C mezzanine secured deferrable floating-rate notes due 2026;

• €22 million of class D mezzanine secured deferrable floating-rate notes due 2026;

• €26 million of class E mezzanine secured deferrable floating-rate notes due 2026; and

• €17 million of class F mezzanine secured deferrable floating-rate notes due 2026.

U.S. Bank Trustees Ltd. is the trustee.

Newark, N.J.-based PGIM Ltd. is the collateral manager.

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