Wellfleet CLO 2016-1 directed to redeem notes and loans on May 10

By Sarah Lizee

Olympia, Wash., April 27 – Wellfleet CLO 2016-1, Ltd./Wellfleet CLO 2016-1, LLC received direction from a majority of its subordinated noteholders to redeem five classes of notes and prepay one class of loans using refinancing proceeds, according to a notice.

The following will be redeemed on May 10 at par plus accrued interest to the redemption date:

• $97,722,552.42 for the class A notes;

• $130,296,736.56 for the class A loans;

• $38,607,129.67 for the class B notes;

• $21,070,101.03 for the class C notes;

• $17,577,084.19 for the class D notes; and

• $17,606,348.08 for the class E notes.

U.S. Bank NA is the trustee.

Greenwich, Conn.-based Wellfleet Credit Partners, LLC is the collateral manager.

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