Shackleton 2017-X CLO’s redemption of class A notes discussed anew

By Wendy Van Sickle

Columbus, Ohio, Jan. 13 – Shackleton 2017-X CLO, Ltd. and Shackleton 2017-X CLO, LLC’s collateral manager and holders of a majority of their subordinated notes have entered into renewed discussions regarding a potential redemption by refinancing of their class A notes to be effected on Jan. 27, according to a notice filed with the London Stock Exchange.

The issuers previously announced a redemption by refinancing of the class A notes would occur on Nov. 14, but later withdrew that notice of redemption via refinancing, as previously reported.

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.

In the latest notice, the issuers noted that a redemption notice is required to be delivered at least 10 business days prior to the applicable refinancing redemption date.

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

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