Herbert Park plans to create three new subclasses of its rated notes

By Angela McDaniels

Tacoma, Wash., March 21 – Herbert Park BV plans to create three new subclasses of each class of its rated notes, according to a notice sent to the holders of the following notes:

• €235 million class A-1 senior secured floating-rate notes due 2026;

• €40 million class A-2 senior secured floating-rate notes due 2026;

• €37 million class B senior secured deferrable floating-rate notes due 2026;

• €21 million class C senior secured deferrable floating-rate notes due 2026;

• €23.5 million class D senior secured deferrable floating-rate notes due 2026;

• €12 million class E senior secured deferrable floating-rate notes due 2026; and

• €44.68 million subordinated notes due 2026.

The change will allow the rated notes to be held in any one of three subclasses, one of which will have voting rights (and will count toward quorum requirements) with respect to resolutions relating to the removal of and selection of a replacement for the collateral manager. The other two subclasses – the CM non-voting notes and the CM exchangeable non-voting notes – will not have such voting rights. The CM exchangeable non-voting notes will be exchangeable at any time into CM voting notes or CM non-voting notes.

Within 21 days of March 21, noteholders who wish to hold rated notes in the form of CM non-voting notes or CM exchangeable non-voting notes following the amendment date should send notice to the registrar.

Unless noteholders otherwise arrange for a transfer of their rated notes into CM non-voting notes or CM exchangeable non-voting notes, each existing class of rated notes will be deemed to be CM voting notes beginning on the amendment date.

Questions can be directed to the collateral manager, Blackstone/GSO Debt Funds Management Europe Ltd., at David.Cunningham@gsocap.com, Alex.Leonard@gsocap.com or Alan.Kerr@gsocap.com.

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