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Waterfront CLO 2007-1 directed to redeem rated, subordinated notes
By Tali Rackner
Minneapolis, Oct. 10 – Waterfront CLO 2007-1, Ltd. said the required redemption percentage of noteholders directed a redemption of its rated and subordinated notes.
According to a filing with the London Stock Exchange, the notes will be redeemed at par plus accrued interest on Oct. 16 for the following total redemption prices:
• $7,724,957.73 for the class A-2 notes;
• $9,544,512.38 for the class A-3 notes;
• $19,108,235.88 for the class B notes;
• $11,614,929.25 for the class C notes; and
• $10,660,672.90 for the class D notes.
For the subordinated notes, the redemption price will be an amount equal to any remaining proceeds payable.
Wells Fargo Bank, NA is the trustee.
Manhattan Beach, Calif.-based Grandview Capital Management LLC is the investment manager.
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