Laurelin 2016-1 to redeem all classes of rated notes on Oct. 22

By Wendy Van Sickle

Columbus, Ohio, Sept. 21 – Laurelin 2016-1 DAC was directed by its subordinated noteholders to redeem all of its rated notes due 2029 from refinancing proceeds, according to a notice.

The following will be redeemed on Oct. 22 at par plus accrued interest to the redemption date:

• Up to €221 million class A senior secured floating-rate notes;

• €67.5 million class B senior secured floating-rate notes;

• €27 million class C senior secured deferrable floating-rate notes;

• €19.5 million class D senior secured deferrable floating-rate notes;

• €21 million class E senior secured deferrable floating-rate notes; and

• €7 million class F senior secured deferrable floating-rate notes.

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