Avoca CLO XIII to redeem eight classes of rated notes due 2027

By Tali Rackner

Minneapolis, July 31 – Avoca CLO XIII DAC’s retention holder exercised the option to redeem eight classes of notes due 2027, according to a notice.

The following will be redeemed at par plus accrued interest on Aug. 31:

• €5 million of class A-1 senior secured fixed-rate notes;

• €235 million of class A-2 senior secured floating-rate notes;

• €14 million of class B-1 senior secured fixed-rate notes;

• €29 million of class B-2 senior secured floating-rate notes;

• €27 million of class C deferrable mezzanine floating-rate notes;

• €19 million of class D deferrable mezzanine floating-rate notes;

• €26 million of class E junior mezzanine floating-rate notes; and

• €13 million of class F junior mezzanine floating-rate notes.

Avoca CLO XIII also proposes to issue new classes of rated notes.

The Bank of New York Mellon, London Branch is the trustee.

Dublin-based KKR Credit Advisors (Ireland) Unltd. Co. is the investment manager.

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