Fortress Credit Opportunities V holders explore optional redemption

By Sarah Lizee

Olympia, Wash., Feb. 20 – Fortress Credit Opportunities V CLO Ltd./Fortress Credit Opportunities V CLO LLC was informed by its collateral manager that a majority of its subordinated noteholders are exploring a possible optional redemption of notes, according to a filing with the London Stock Exchange.

If directed, the notes would be redeemed using liquidation proceeds.

The following are affected:

• $92 million class A-1R senior secured floating-rate notes due 2026;

• $104.5 million class A-1T-R senior secured floating-rate notes due 2026;

• $110 million class A-1F-R senior secured fixed-rate notes due 2026;

• $21 million class A-2-R senior secured fixed-rate notes due 2026;

• $78.5 million class B-R senior secured floating-rate notes due 2026;

• $57 million class C-R deferrable mezzanine floating-rate notes due 2026;

• $50 million class D-R deferrable mezzanine floating-rate notes due 2026;

• $21 million class E-R deferrable mezzanine floating-rate notes due 2026;

• $21.5 million class F deferrable mezzanine floating-rate notes due 2026; and

• $157.5 million subordinated notes due 2026.

U.S. Bank NA is the trustee.

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