Shackleton 2015-VII to issue $412.5 million of notes via a refinancing

By Tali Rackner

Norfolk, Va., Dec. 19 – Shackleton 2015-VII CLO, Ltd. and Shackleton 2015-VII CLO, LLC proposed a supplemental indenture to the April 29, 2015 indenture governing its notes to permit a refinancing of its secured notes, according to a notice from trustee U.S. Bank NA.

The supplemental indenture would provide for a refinancing of the class A, B and C notes.

The new notes would include $320 million of class A-R notes, $57.5 million of class B-R notes and $35 million of class C-R notes.

Shackleton would issue the refinanced notes on Dec. 22. They would mature on April 15, 2027.

As previously reported, the redemption price for the class A, B and C notes will be 100% of the outstanding principal amount plus accrued interest. If the redemption occurs prior to the redemption make-whole end date, holders of the class A notes and class B notes will also receive a redemption premium.

The class D notes, class E notes and subordinated notes will not be redeemed.

Alcentra NY LLC manages the CLO.

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