Fortress Credit Opportunities III CLO might be directed to refinance

By Angela McDaniels

Tacoma, Wash., Feb. 27 – Fortress Credit Opportunities III CLO LP might refinance some of its notes, according to a notice from trustee U.S. Bank NA.

The company received a direction from its general partner and the holders of a majority of the limited partnership interests that they are considering a refinancing of one or more classes or subclasses of the notes by way of a partial redemption.

The notice was sent to the holders of the company’s class A-1R notes, class A-1T notes, class A-2T notes, class B-1 notes, class B-2 notes, class C notes, class D notes and class E notes.

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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