Ocean Finance redeems €156 million portion of its notes on March 27

By Tali David

Minneapolis, March 29 - Ocean Finance announced the redemption of €156 million of its 100% principal rated and protected managed credit CPPI notes.

The following notes were redeemed on March 27:

• €39 million of its series 2006-1 class E1 notes due 2016;

• €30 million of its series 2006-2 class B2 notes due 2013;

• €26 million of its series 2006-3 class C2 notes due 2016;

• €25 million of its series 2006-4 class B1 notes due 2013; and

• €36 million of its series 2006-5 class D2 notes due 2016.

The redemption left €34.5 million of the class E1 notes, €10 million of the class B2 notes, €10 million of the class C2 notes, €5 million of the class B1 notes and none of the class D2 notes outstanding.

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