Sorrento Park CLO to redeem six classes of notes due 2027 on May 16

By Tali Rackner

Minneapolis, April 11 – Sorrento Park CLO DAC said its subordinated noteholders exercised their right to require a redemption of six classes of notes due 2027, according to a notice.

The following will be redeemed at par plus accrued interest on May 16:

• €290 million of class A-1A senior secured floating-rate notes;

• €5 million of class A-1B senior secured fixed-rate notes;

• €28.75 million of class A-2A senior secured floating-rate notes;

• €30 million of class A-2B senior secured fixed-rate notes;

• €30 million of class B senior secured deferrable floating-rate notes; and

• €28.75 million of class C senior secured deferrable floating-rate notes.

The transaction will be funded with refinancing proceeds.

Citibank, NA is the trustee.

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