Fortress Credit Opportunities III to redeem notes via refinancing

By Tali Rackner

Norfolk, Va., March 20 – Fortress Credit Opportunities III CLO LP will redeem six classes of notes via a refinancing, according to two notices from trustee U.S. Bank NA.

The notes will be redeemed on April 7 at the following redemption prices:

• $229,621,438.72 of class A-1T notes;

• $40,318,685.16 of class A-2T notes;

• $20,171,564.80 of class B-1 notes;

• $68,847,450 of class B-2 notes;

• $64,666,340.69 of class C notes; and

• $56,719,937 of class D notes.

As part of the refinancing, Fortress intends to issue $100 million of class A-1R notes (Aaa (sf)/AAA (sf)/), $228 million of class A-1T-R notes (Aaa (sf)/AAA (sf)/), $40 million of class A-2T-R notes (Aaa (sf)/AAA (sf)/), $20 million of class B-1-R notes (/AA+ (sf)/), $68 million of class B-2-R notes (/AA+ (sf)/), $64 million of class C-R notes (/A+ (sf)/), $56 million of class D-R notes (/BBB+ (sf)/), $48 million of class E notes (/BB (sf)/) and $176 million of partnership interests.

Questions may be directed to U.S Bank (Attn: Ryan Oswald 312 332-7019 or ryan.oswald@usbank.com).

FCO III CLO GP LLC manages the CLO and has a services agreement with Drawbridge Special Opportunities Advisors LLC, a subsidiary of New York-based Fortress Investment Group LLC.

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