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Grippen Park CLO subordinated holders eye redemption of secured notes
By Wendy Van Sickle
Columbus, Ohio, Feb. 10 – Grippen Park CLO Ltd./Grippen Park CLO LLC holders of a majority of the subordinated notes are considering an optional redemption in full of some or all of its secured notes on or after March 15, according to a notice.
The secured notes include the class A notes (Cusips: 39862EAA2 and G4133FAA9), class B notes (Cusips: 39862EAB0 and G4133FAB7), class C notes (Cusips: 39862EAC8 and G4133FAC5), class D notes (Cusips: 39862EAD6 and G4133FAD3) and class E notes (Cusips: 39862DAA4 and G4133EAA2).
Marketing of a refinancing in connection with the redemption may be completed this month.
The collateral manager intends to have discussions with individual holders of subordinated notes about the proposed redemption.
Wells Fargo Bank, NA is the trustee.
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