Cairn CLO IV expects to redeem eight series of notes on April 28

By Angela McDaniels

Tacoma, Wash., March 27 – Cairn CLO IV BV will redeem its rated notes due 2028, according to a filing with the London Stock Exchange.

The subordinated noteholders have exercised their right to require the issuer to redeem its €175 million class A-1 senior secured floating-rate notes, €5 million class A-2 senior secured fixed-rate notes, €20.25 million class B-1 senior secured floating-rate notes, €15 million class B-2 senior secured fixed-rate notes, €16.75 million class C senior secured deferrable floating-rate notes, €15.75 million class D senior secured deferrable floating-rate notes, €21 million class E senior secured deferrable floating-rate notes and €8 million class F senior secured deferrable floating-rate notes.

Subject to the satisfaction of some conditions, the issuer will redeem the notes in full on April 28 with the proceeds of a refinancing.

In each case, the redemption price is 100% of the principal amount outstanding plus accrued interest including, if applicable, deferred interest.

Cairn Loan Investments LLP is the investment manager.

Cairn CLO IV is based in Amsterdam.

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