Dryden XV - Euro CLO 2006 required to redeem nine note series due 2023

By Tali Rackner

Norfolk, Va., March 18 – Dryden XV - Euro CLO 2006 plc said that holders of at least 66 2/3% of its outstanding subordinated notes have exercised their right to require the company to redeem all of its notes due 2023, according to a filing with the London Stock Exchange.

The following will be redeemed in whole at their applicable redemption prices in April:

• €198 million of class A1 senior floating-rate notes;

• €20 million of class A2 senior floating-rate notes;

• €80 million of class A3 senior revolving floating-rate notes;

• €34 million of class B senior floating-rate notes;

• €29 million of class C mezzanine deferrable interest floating-rate notes;

• €23 million of class D mezzanine deferrable interest floating-rate notes;

• €16.2 million of class E mezzanine deferrable interest floating-rate notes;

• €42.1 million of subordinated notes; and

• €7 million of class V combination notes.

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