Magnetite IX to redeem six classes of secured notes on July 10

By Angela McDaniels

Tacoma, Wash., June 27 – Magnetite IX, Ltd. and Magnetite IX LLC will redeem their secured notes in whole on July 10, according to a notice of redemption.

The redemption is being carried out at the instruction of the holders of a majority of the subordinated notes.

The redemption price of each class of secured notes will be 100% of the outstanding amount plus accrued deferred interest plus accrued interest, including any accrued interest on defaulted interest, to the redemption date.

More specifically, the redemption price will be

• $182,620,158 for the class A-1-R notes;

• $40,344,554 for the class A-2-R notes;

• $28,270,744 for the class B-R notes;

• $24,287,799 for the class C-R notes;

• $20,320,055 for the class D notes; and

• $5,087,930 for the class E notes.

The subordinated notes will not be redeemed on the redemption date, but they may be receiving funds on the redemption date.

BlackRock Financial Management, Inc. manages the CLO. The investment management firm is based in New York.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.