St. Paul’s CLO V directed to redeem rated, subordinated notes due 2027

By Tali Rackner

Minneapolis, July 14 – St. Paul’s CLO V DAC, formerly St. Paul’s CLO V Ltd., said its subordinated noteholders exercised their right to require a redemption of six classes of rated notes and some subordinated notes due 2027, according to a notice.

The following will be redeemed in full at par plus accrued interest on Aug. 16:

• €208.5 million of class A secured floating-rate notes;

• €42 million of class B secured floating-rate notes;

• €19.7 million of class C secured deferrable floating-rate notes;

• €17.5 million of class D secured deferrable floating-rate notes;

• €24.8 million of class E secured deferrable floating-rate notes; and

• €10.5 million of class F secured deferrable floating-rate notes.

The redemption price of any of the €38.4 million subordinated notes will be such note’s pro rata share of the amounts available to be distributed to the subordinated noteholders in accordance with the acceleration priority of payments.

Citibank, NA, London Branch is the trustee.

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