Ares XXIV CLO to redeem six classes of rated, some subordinated notes

By Tali Rackner

Norfolk, Va., March 29 – Ares XXIV CLO Ltd./Ares XXIV CLO LLC said holders of at least a majority of its subordinated notes directed it to redeem six classes of rated notes and some subordinated notes, according to a filing with the London Stock Exchange.

The notes will be redeemed in whole at par plus accrued interest on April 12 for the following total redemption prices:

• $348,477,284.32 for the class A-R notes;

• $67,077,503.69 for the class B-1-R notes;

• $13,113,132.50 for the class B-2-R notes;

• $63,686,497.15 for the class C-R notes;

• $36,424,610.10 for the class D-R notes; and

• $31,731,795.42 for the class E notes.

For the subordinated notes, the redemption price will be an amount equal to any remaining principal proceeds payable under the priority of principal payments.

U.S. Bank NA is the trustee.

Los Angeles-based Ares CLO Management XXIV, LP is the asset manager.

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