Saranac CLO III income noteholders mull redemption of secured notes

By Wendy Van Sickle

Columbus, Ohio, Jan. 5 – Saranac CLO III Ltd./Saranac CLO III LLC said holders of a majority of its income notes are exploring a possible optional redemption of all classes of the senior secured notes, according to a notice.

The affected notes, all due 2025, include:

• $164 million of class A-1 floating-rate notes;

• $74 million of class A-2A floating-rate notes;

• $11 million of class A-2B floating-rate notes;

• $31 million of class B floating-rate notes;

• $31 million of class C deferrable floating-rate notes;

• $23 million of class D deferrable floating-rate notes;

• $24.5 million of class E deferrable floating-rate notes; and

• $10 million of class F floating-rate notes.

U.S. Bank NA is the trustee.

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