Northwoods Capital XI directed to redeem secured, subordinated notes

By Tali Rackner

Minneapolis, March 21 – Northwoods Capital XI, Ltd./Northwoods Capital XI, LLC was directed by a majority of its class A subordinated noteholders to redeem six classes of notes and the subordinated notes, according to a notice from trustee Bank of New York Mellon Trust Co., NA.

The redemption will be funded with sale proceeds.

The notes will be redeemed at par plus accrued interest on April 16 for the following total redemption prices:

• $378,938,284.56 for the class A-R notes;

• $39,928,830.48 for the class B-1-R notes;

• $30,276,735 for the class B-2-R notes;

• $48,494,582,40 for the class C notes;

• $33,426,650.40 for the class D notes; and

• $30,466,614 for the class E notes.

For the subordinated notes, the redemption price will be the proportional share of the proceeds remaining after the full redemption of the secured notes.

New York City-based Angelo, Gordon & Co., LP is the collateral manager.

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