ICG US CLO 2016-1 to refinance five classes of rated notes on July 30

By Sarah Lizee

Olympia, Wash., July 18 – ICG US CLO 2016-1, Ltd./ICG US CLO 2016-1, LLC plans to refinance some classes of its rated notes in whole on July 30.

Trustee U.S. Bank NA received a required redemption direction from the collateral manager with the written approval of a majority of the subordinated noteholders to refinance the notes, according to a notice.

The following will be redeemed at par plus accrued interest:

• $256 million of class A-1 notes for a redemption price of $258,561,770.52;

• $51 million of class A-2 notes for a redemption price of $51,587,702.72;

• $18 million of class B notes for a redemption price of $18,243,824.49;

• $26 million of class C notes for a redemption price of $26,434,343.71; and

• $17 million of class D notes for a redemption price of $17,391,424.52.

The subordinated notes are not being redeemed on the redemption date.

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