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Wellfleet CLO 2016-2 directed to redeem all secured notes on Nov. 8
By Sarah Lizee
Olympia, Wash., Oct. 25 – Wellfleet CLO 2016-2, Ltd./Wellfleet CLO 2016-2, LLC received direction from holders of a majority of its subordinated notes to redeem each class of secured notes in whole from refinancing proceeds, according to a notice.
The notes will be redeemed on Nov. 8 at par plus accrued interest for the following redemption prices:
• $260,505,721.67 for the class A-1 notes;
• $47,103,625.86 for the class A-2 notes;
• $21,555,525.54 for the class B notes;
• $16,554,300.13 for the class C-1 notes;
• $7,024,689.19 for the class C-2 notes; and
• $16,071,543.56 for the class D notes.
The subordinated notes will remain outstanding.
U.S. Bank NA is the trustee.
Greenwich, Conn.-based Wellfleet Credit Partners, LLC is the collateral manager.
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