Gallatin CLO IV 2012-1 to redeem secured, subordinated notes on Oct. 11

By Tali Rackner

Minneapolis, Sept. 26 – Gallatin CLO IV 2012-1, Ltd./Gallatin CLO IV 2012-1 LLC received direction from holders of at least a majority of its subordinated notes to redeem six classes of secured notes and the subordinated notes, according to a notice from trustee Bank of New York Mellon Trust Co., NA.

The notes will be redeemed at par plus accrued interest on Oct. 11 for the following total redemption prices:

• $42,647,405.80 for the class A notes;

• $39,312,444.67 for the class B notes;

• $24,255,340.31 for the class C notes;

• $12,166,370.15 for the class D notes;

• $14,219,181.85 for the class E notes; and

• $5,602,530.76 for the class F notes.

For the subordinated notes, the redemption price will be an amount equal to its proportional share of the net proceeds remaining after the full redemption of the secured notes.

Gallatin will also pay the break funding amount on each class of notes, if any.

Stamford, Conn.-based DCM Senior Credit, LLC is the portfolio manager.

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