OCP CLO 2014-7 holder explores possible redemption of notes due 2026

By Sarah Lizee

Olympia, Wash., Aug. 6 – OCP CLO 2014-7, Ltd./OCP CLO 2014-7 Corp. said the holder of a majority of its subordinated securities is exploring the possible optional redemption by refinancing of some classes of notes.

The following are affected:

• $285 million of class A-1a-R senior secured floating-rate notes due 2026;

• $25 million of class A-1b-R senior secured fixed-rate notes due 2026;

• $67.5 million of class A-2a-R senior secured floating-rate notes due 2026;

• $3 million of class A-2b-R senior secured fixed-rate notes due 2026;

• $22 million of class B-1-R senior secured deferrable floating-rate notes due 2026;

• $10 million of class B-2-R senior secured deferrable fixed-rate notes due 2026;

• $27 million of class C senior secured deferrable floating-rate notes due 2026;

• $21.75 million of class D senior secured deferrable floating-rate notes due 2026;

• $10.5 million of class E senior secured deferrable floating-rate notes due 2026; and

• $10 million of subordinated notes due 2026.

Citibank, NA is the trustee.

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