Magnetite XI directed to redeem five classes of notes on June 5

By Sarah Lizee

Olympia, Wash., May 23 – Magnetite XI, Ltd./Magnetite XI, LLC received direction from holders of a majority of its subordinated notes to redeem five classes of notes in whole from sale proceeds, according to a press release.

The following notes will be redeemed on June 5 at par plus accrued interest:

• $332,393,713.82 of class A-1-R notes;

• $63.75 million of class A-2-R notes;

• $30.75 million of class B-R notes;

• $33 million of class C-R notes; and

• $30.25 million of class D notes.

Citibank, NA is the trustee.

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