Contego CLO IV cancels redemption of floating-rate notes due 2030

By Sarah Lizee

Olympia, Wash., Nov. 20 – Contego CLO IV, DAC was notified by its collateral manager that the redemption scheduled for on or before Nov. 21 will no longer take place due to one or more of the conditions not being satisfied by then, according to a notice.

As previously reported, the issuer had made plans to fully redeem by refinancing four classes of its rated notes.

The following were to be redeemed at a price equal to the outstanding principal amount plus accrued interest:

• €211.8 million class A senior secured floating-rate notes due 2030;

• €31.6 million class B-1 senior secured floating-rate notes due 2030;

• €10 million class B-2 senior secured fixed-rate notes due 2030; and

• €21 million class C senior secured deferrable floating-rate notes due 2030.

U.S. Bank Trustees Ltd. is the trustee, and Five Arrows Managers LLP is the collateral manager.

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