BlueMountain CLO 2014-2 directed to refinance secured notes Oct. 22

By Sarah Lizee

Olympia, Wash., Sept. 24 – BlueMountain CLO 2014-2 Ltd./BlueMountain CLO 2014-2 LLC received direction from holders of a majority of its subordinated noteholders to redeem each class of its secured notes, according to a notice.

The class A-R, B-1-R, B-2-R, C-R, D-R, E and F notes will be redeemed on Oct. 22 using refinancing proceeds.

The issuer is also proposing a second supplemental indenture in connection with the refinancing.

BlueMountain plans to issue $3 million of class X notes, $348.5 million of class A-1-R2 notes, $20 million of class A-2-R2 notes, $62 million of class B-R2 notes, $32.5 million of class C-R2 notes, $32 million of class D-R2 notes, $20.5 million of class E-R2 notes, $9.1 million of class F-R2 notes and $67.3 million of subordinated notes.

U.S. Bank NA is the trustee.

New York-based BlueMountain CLO Management, LLC is the portfolio manager.

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