St. Paul’s CLO III noteholders exploring possible note redemption

By Sarah Lizee

Olympia, Wash., Nov. 9 – St. Paul's CLO III DAC (formerly known as St. Paul's CLO III Ltd.) said some of its subordinated noteholders are exploring a full redemption of six classes of floating-rate notes and the subordinated notes, according to a filing with the London Stock Exchange.

The following are affected:

• €326.7 million of class A secured floating-rate notes due 2028;

• €64.9 million of class B secured floating-rate notes due 2028;

• €32.4 million of class C secured deferrable floating-rate notes due 2028;

• €26.4 million of class D secured deferrable floating-rate notes due 2028;

• €33 million of class E secured deferrable floating-rate notes due 2028;

• €15.4 million of class F secured deferrable floating-rate notes due 2028; and

• €57.7 million of subordinated notes due 2028.

Citibank NA, London Branch is the trustee.

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