Dryden 35 Euro CLO 2014 directed to redeem its rated notes due 2027

By Sarah Lizee

Olympia, Wash., Dec. 11 – Dryden 35 Euro CLO 2014 BV said its subordinated noteholders have directed a redemption in whole of its rated notes due 2027, according to a notice.

The notes will be redeemed on the date falling at least 30 business days after the passing of the resolution from refinancing proceeds and sale proceeds.

The following will be redeemed at par plus accrued interest:

• €232.1 million of class A-1A senior secured floating-rate notes;

• €15.8 million of class A-1B senior secured fixed-rate notes;

• €19 million of class B-1A senior secured floating-rate notes;

• €33.7 million of class B-1B senior secured fixed-rate notes;

• €31.9 million of class C mezzanine secured deferrable floating-rate notes;

• €21.2 million of class D mezzanine secured deferrable floating-rate notes;

• €27.1 million of class E mezzanine secured deferrable floating-rate notes; and

• €14.5 million of class F mezzanine secured deferrable floating-rate notes.

Deutsche Trustee Co. Ltd. is the trustee.

PGIM Ltd. is the collateral manager.

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