Sudbury Mill CLO directed to redeem secured debt with sale proceeds

By Sarah Lizee

Olympia, Wash., Oct. 24 – Sudbury Mill CLO, Ltd./Sudbury Mill CLO, LLC said it received notice from holders of a majority of its subordinated notes directing the issuer to effect a liquidation of its secured debt, according to a notice.

Holders of the class A-1-R, A-2-R, B-1-R, B-2-R, C-R, D and E notes and the subordinated notes were notified.

The debt will be redeemed using sale proceeds on or after Nov. 27.

U.S. Bank NA is the trustee.

New York-based Shenkman Capital Management, Inc. manages the CLO.

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