OZLM Funding III plans to redeem class A-1-R, A-2-R and B-R notes

By Angela McDaniels

Tacoma, Wash., Oct. 28 – OZLM Funding III, Ltd. and OZLM Funding III, LLC will redeem their class A-1-R notes, class A-2-R notes and class B-R notes in full from refinancing proceeds on Nov. 8, according to a notice to noteholders.

The collateral manager and the holders of a majority of the subordinated notes directed the issuer to make the redemption.

The redemption price is $397,155,935 for the class A-1-R notes, $79,025,969 for the class A-2-R notes and $47,485,812 for the class B-R notes.

In each case, the redemption price is equal to 100% of the outstanding amount of notes plus accrued interest to the redemption date and, in the case of the class B-R notes, any accrued deferred interest.

The redemption is subject to conditions and may be canceled.

The class C-R notes, class D-R notes and subordinated notes will not be redeemed on the redemption date.

On Oct. 9, the issuers announced plans to redeem the class A-1-R notes, class A-2-R notes, class B-R notes, class C-R notes and class D-R notes on Oct. 22. Then on Oct. 21, the issuers said they were unable to complete the redemption by refinancing and withdrew the notice of redemption.

The collateral manager is New York-based Sculptor Loan Management LP, formerly known as Och-Ziff Loan Management LP.

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