Shackleton 2017-X CLO withdraws redemption notice for class A notes

By Angela McDaniels

Tacoma, Wash., Nov. 4 – Shackleton 2017-X CLO, Ltd. and Shackleton 2017-X CLO, LLC withdrew the notice of redemption via refinancing for their class A notes, according to a notice filed with the London Stock Exchange.

The notice of redemption and the subsequent withdrawal were made at the direction of the holders of a majority of the issuers’ subordinated notes.

The plan had been to issue $320 million of new class A-R secured floating-rate notes and use the proceeds to redeem the class A notes on Nov. 14 for a total redemption price of $320,703,121.

The directing subordinated noteholders have reserved their right to deliver a new direction to refinance the class A notes in the future, including, possibly, in the near future.

New York-based Alcentra NY, LLC is the collateral manager.

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