Lombard Street CLO I holders exercise redemption on notes due 2023

By Tali Rackner

Norfolk, Va., Feb. 2 – Lombard Street CLO I plc said at least 66 2/3% of the holders of its class F subordinated notes are exercising the redemption option on eight classes of notes due 2023, according to a notice.

The following will be redeemed on Feb. 28:

• €19.25 million of class B deferrable secured floating-rate notes;

• €18.2 million of class C deferrable secured floating-rate notes;

• €23.8 million of class D deferrable secured floating-rate notes;

• €18,375,000 million of class E deferrable secured floating-rate notes;

• €34,125,000 of class F subordinated notes;

• €25 million of class S combination notes;

• €10 million of class T combination notes; and

• €7 million of class W combination notes.

The rated notes will be redeemed at par plus accrued interest to the redemption date.

The subordinated notes will be redeemed at a price equal to the total of each subordinated note's pro rata share of the amounts available to be distributed to the subordinated noteholders in accordance with the applicable priorities of payment.

The combination notes will be redeemed at a price equal to the proportion that the principal amount outstanding of such component bears to the principal amount outstanding of the related class of notes (including the related component).

BNY Mellon Corporate Trustee Services Ltd. is the trustee.

Lombard Street CLO is based in Dublin.

© 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.