Saranac CLO III directed to redeem seven classes of notes on May 15

By Tali Rackner

Minneapolis, May 2 – Saranac CLO III Ltd./Saranac CLO III LLC said a majority of its income noteholders directed an optional redemption of seven classes of notes, according to a notice from trustee U.S. Bank NA.

The class A-1, A-2A, A-2B, B, C, D and E notes will be redeemed in whole at par plus accrued interest on May 15.

The class F notes and income notes will not be redeemed on the redemption date.

St. Helier, Jersey-based Saranac Advisory Ltd. is the collateral manager.

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