Dryden 34 Senior Loan Fund directed to redeem all notes on June 7

By Sarah Lizee

Olympia, Wash., May 24 – Dryden 34 Senior Loan Fund/Dryden 34 Senior Loan Fund LLC received direction from a majority of its subordinated noteholders to redeem all classes of its notes in whole using sale proceeds, according to a notice.

The following will be redeemed at par plus accrued interest on June 7:

• $358,628,959.61 of class A-R notes;

• $84 million of class B-R notes;

• $32 million of class C-R notes;

• $39 million of class D-R notes;

• $31.5 million of class E notes; and

• $20.75 million of class F notes.

For the subordinated notes, the redemption price will be the proportional share of the amount of proceeds remaining after giving effect to the redemption of the secured notes and payment in full of all outstanding expenses.

U.S. Bank NA is the trustee.

Newark, N.J.-based PGIM, Inc. is the collateral manager.

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