St. Paul’s CLO II will redeem six classes of notes via refinancing

Chicago, Sept. 13 – St. Paul’s CLO II DAC will redeem all of its rated floating-rate notes due 2030, according to a notice of redemption.

Holders of at least 66 2/3% of the principal amount outstanding of the subordinated notes acting by extraordinary resolution have exercised their right to optional redemption by refinancing.

St. Paul’s will redeem the rated notes in whole at the applicable redemption prices plus unpaid interest from refinancing proceeds.

The redemption date is Oct. 1.

The CLO portfolio consists of €241.5 million class A secured notes, €40 million class B secured notes, €28.5 million class C secured deferrable notes, €21.5 million class D secured deferrable notes, €25 million class E secured deferrable notes, €11 million class F secured deferrable notes and €62 million subordinated notes.

Intermediate Capital Managers Ltd., a London-based investment management firm, is the investment manager.

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