Sugar Creek CLO seeks consents to amend several series of notes

By Jennifer Chiou

New York, May 22 - Sugar Creek CLO, Ltd. and Sugar Creek CLO, LLC are soliciting noteholder consent to amend the indenture of several classes of its notes, according to a notice from the trustee filed with the London Stock Exchange.

The issuers are seeking consents from holders of a majority of each of 11 classes of notes to amend the indenture dated May 31, 2012.

Sugar Creek is looking to, among other things, limit the types of assets that are permitted to be acquired in order to reduce the likelihood that Sugar Creek will be deemed a "covered fund" under the Dodd-Frank Act.

The issuers are also looking to amend the term collateral obligation, eligible investments, letter of credit and participation interest in the indenture. They are also seeking to add the "Volcker Rule" definition.

The proposed supplemental indenture requires the written consent of a majority of each class of notes, voting separately. Noteholders must be of record as of May 21. Consents must be delivered by 5 p.m. ET on June 12.

Wells Fargo Bank, NA is the trustee (attn: Maire Farrell; 410 884-6439 or fax 866 373-0261; maire.farrell@wellsfargo.com).

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