Silver Creek seeks holder consent to amend notes to effect redemption

By Marisa Wong

Morgantown, W.Va., June 29 – Silver Creek CLO, Ltd./Silver Creek CLO, LLC are soliciting consents from holders of their subordinated notes to amend the indenture governing their class A, class B, class C, class D and class E secured notes.

The co-issuers are seeking to amend the indenture in order to refinance the five series of secured notes through the issuance of class X, class A-R, class B-R, class C-R, class D-R and class E-R notes.

Holders of a majority of the subordinated notes have directed the co-issuers to redeem the existing secured notes on or around July 20, according to a notice.

Holders of the subordinated notes are being asked to deliver their consents to the proposed amendments by 5 p.m. ET on July 19.

The subordinated notes will remain outstanding after the redemption of the secured notes.

U.S. Bank NA is the trustee.

40|86 Advisors, Inc. is the collateral manager.

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