HPS Loan Management 10-2016 to redeem six classes of rated notes

By Angela McDaniels

Tacoma, Wash., July 1 – HPS Loan Management 10-2016, Ltd. and HPS Loan Management 10-2016, LLC will redeem their rated floating-rate notes due 2028 with refinancing proceeds at the direction of the holders of a majority of the subordinated notes, according to a noteholder notice.

The redemption date will be July 22 or such later day on which the conditions to the refinancing are satisfied, but in no case later than Dec. 31.

The redemption applies to the following:

• $248 million class A-1 senior secured notes;

• $50.5 million class A-2 senior secured notes;

• $13.5 million class B-1 mezzanine secured deferrable notes;

• $12 million class B-2 mezzanine secured deferrable notes;

• $28 million class C mezzanine secured deferrable notes; and

• $16 million class D junior secured deferrable notes.

For the class A-1 and class A2 notes, the redemption price will be equal to 100% of the outstanding amount plus accrued interest.

For the remaining notes, the redemption price will be equal to 100% of the outstanding amount plus accrued interest including interest on any accrued deferred interest.

The subordinated notes will remain outstanding.

New York’s HPS Investment Partners, LLC is the investment manager.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.