German Residential redeems €1.45 billion of secured floaters due 2016

By Tali David

Minneapolis, Jan. 24 - German Residential Asset Note Distributor plc (Grand) completed the early redemption of €1,444,545,000 of its notes in three series, according to a notice.

The company redeemed €105,425,000 of its class D secured floating-rate notes due 2016, €139.12 million of its class C secured floating-rate notes due 2016 and €1.2 billion of its class A secured floating-rate notes due 2016.

Following the Jan. 21 transactions, €513,575,000 of the class D notes, €936.88 million of class C notes and €3,442,800,000 of class A notes remain outstanding.

Grand is based in Dublin, Ireland.

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