Avoca CLO IX to redeem €300 million notes following class M put

By Toni Weeks

San Luis Obispo, Calif., June 19 – Avoca CLO IX Ltd. said in a company filing with the London Stock Exchange that holders of its €52.1 million of class M subordinated notes due 2024 exercised their put option on June 18 to require the company to redeem the class M notes as well as the remaining notes series within the collateralized loan obligation.

The company will consequently also redeem its €218.4 million of class A senior secured floating-rate notes due 2024, €14.5 million of class B senior secured deferrable floating-rate notes due 2024 and €15 million of class C senior secured deferrable floating-rate notes due 2024.

The notes, totaling €300 million, will be redeemed on July 28.

Deutsche Trustee Co. Ltd. is the trustee.

Avoca Capital Holdings Avoca is the Dublin-based investment manager to the CLO.

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