Eurocredit Opportunities asks noteholders to exercise redemption option

By Angela McDaniels

Tacoma, Wash., Oct. 6 – Eurocredit Opportunities I plc wants to redeem its €55 million class D-1 subordinated notes due 2019, €25 million class D-2 subordinated notes due 2019, €55 million class D-3 subordinated notes due 2019, €65 million class D-4 subordinated notes due 2019 and €20 million class D-5 subordinated notes due 2019.

To that end, the issuer is asking the noteholders to exercise their option to request the redemption of the notes.

If the proposal passes, the issuer will redeem the notes in whole at the applicable redemption prices on the Oct. 30 payment date, according to a notice from trustee BNY Mellon Corporate Trustee Services Ltd.

In order to pass, the proposal must be approved by the holders of at least two-thirds of the principal amount of outstanding notes.

Noteholders will vote in writing on whether to pass the proposal. Instructions must be submitted by 8 a.m. ET on Oct. 15.

Intermediate Capital Managers Ltd., an investment firm based in London, is the investment manager.

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