Saranac CLO I holders explore potential redemption of secured notes

By Tali Rackner

Minneapolis, June 27 – Saranac CLO I Ltd. said a majority of its income noteholders are exploring the possible redemption of eight classes of secured notes due 2024, according to a notice.

The following are affected:

• $160.5 million of class A-1A senior secured floating-rate notes;

• $25 million of class A-1F senior secured floating-rate notes;

• $37 million of class A-2 senior secured floating-rate notes;

• $27.5 million of class B senior secured floating-rate notes;

• $27 million of class C secured deferrable floating-rate notes;

• $20 million of class D secured deferrable floating-rate notes;

• $18 million of class E secured deferrable floating-rate notes;

• $2 million of class F secured floating-rate notes; and

• $34,375,000 of income notes.

If effected, the notes would be redeemed in whole, and not in part, at the applicable redemption prices.

U.S. Bank NA is the trustee.

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