Avoca CLO III obtains holder consent to amend, reduce class E floaters

By Tali Rackner

Norfolk, Va., Dec. 8 – Avoca CLO III plc obtained noteholder approval to reduce the principal amount outstanding of its €14 million class E senior secured deferrable floating-rate notes due 2021, according to a notice.

As previously reported, consents from holders of at least 66 2/3% of the aggregate principal amount outstanding of the class E holders were needed to approve the amendment.

The issuer also intends to fully redeem and cancel its class F subordinated notes.

KKR Credit Advisors (Ireland) Unltd. Co. is the investment manager.

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