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Babson CLO Ltd. 2014-III directed to redeem secured notes on June 14
By Sarah Lizee
Olympia, Wash., May 22 – Babson CLO Ltd. 2014-III/Babson CLO 2014-III, LLC received direction from a majority of its subordinated noteholders to redeem its secured notes in whole from sale proceeds, according to a notice.
The following will be redeemed on June 14:
• $426.25 million of class A-R notes for a redemption price of $428,812,161.64;
• $49 million of class B-1-R notes for a redemption price of $49,333,082.55;
• $40 million of class B-2-R notes for a redemption price of $40,239,088.89;
• $41.5 million of class C-1-R nots for a redemption price of $41,839,912.33;
• $13 million of class C-2-R notes for a redemption price of $13,096,553.89;
• $29.5 million of class D-1 notes for a redemption price of $29,782,719.57;
• $8 million of class D-2 notes for a redemption price of $8,088,469.71;
• $33.75 million of class E-1 notes for a redemption price of $34,161,950.35;
• $2.5 million of class E-2 notes for a redemption price of $2,536,250.95; and
• $14 million of class F notes for a redemption price of $14,191,533.11.
The subordinated notes will not be redeemed on the redemption date.
U.S. Bank NA is the trustee.
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