Canyon CLO 2016-1 directed by holders to redeem rated notes on June 8

By Sarah Lizee

Olympia, Wash., May 30 – Canyon CLO 2016-1, Ltd./Canyon CLO 2016-1, LLC received direction from a majority of its subordinated noteholders to redeem its rated notes in whole, according to a notice.

The following will be redeemed on June 8 at par plus accrued interest up to but excluding the redemption date:

• $247.5 million of class A-1 notes;

• $45 million of class A-2 notes;

• $42.25 million of class B-1 notes;

• $5 million of class B-2 notes;

• $23.4 million of class C notes;

• $19.25 million of class D-1 notes;

• $6.45 million of class D-2 notes; and

• $23 million of class E notes.

Holders of 100% of the outstanding amount of any class may agree to reduce the redemption price otherwise payable to the class.

The notes will be redeemed using sales proceeds and/or refinancing proceeds.

The subordinated notes are not being redeemed.

Deutsche Bank Trust Co. Americas is the trustee.

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