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Mountain Hawk III CLO plans to refinance class A, B, C notes
By Wendy Van Sickle
Columbus, Ohio, March 23 – Mountain Hawk III CLO Ltd./Mountain Hawk III CLO LLC was directed by the holders of a majority of its income notes to redeem three classes of its notes due 2025 on the April payment date, according to a notice to its noteholders from trustee Deutsche Bank.
The class A senior secured floating-rate notes, class B senior secured floating-rate notes and class C secured-deferrable floating-rate notes are to be redeemed via a refinancing and replaced with $346.5 million of class A-R senior secured floating-rate notes, $69.25 million of class B-R senior secured floating-rate notes and $47.75 million of class C-R secured-deferrable floating-rate notes to be issued on April 18.
Holders of the majority of any class of notes may, within 20 business days of delivery of the notice of the proposed supplemental indenture effect the changes, give notice to the trustee that the proposed measures would materially and adversely affect them.
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