Fortress Credit Opportunities V to redeem secured, subordinated notes

By Sarah Lizee

Olympia, Wash., April 4 – Fortress Credit Opportunities V CLO Ltd./Fortress Credit Opportunities V CLO LLC received direction from a majority of its subordinated noteholders to redeem all classes of secured notes and its subordinated notes, according to a notice.

The following will be redeemed on April 17 at par plus accrued interest with redemption prices to be determined:

• $92 million class A-1R notes;

• $104.5 million class A-1T-R notes;

• $110 million class A-1F-R notes;

• $21 million class A-2-R notes;

• $78.5 million class B-R notes;

• $57 million class C-R notes;

• $50 million class D-R notes;

• $21 million class E-R notes; and

• $21.5 million class F notes.

The redemption price of each subordinated note is its proportional share of the amount of proceeds of assets remaining after giving effect to the redemption and payment in full of all other amounts senior to the subordinated notes.

U.S. Bank NA is the trustee.

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