Merit Holdings amends terms of series 2018-24 secured notes

By Mary-Katherine Stinson

Lexington, Ky., Oct. 12 – Merit Holdings Ltd. amended the terms of its series 2018-24 $75 million limited recourse secured credit-linked notes due 2025 (ISIN: XS1856107641) issued pursuant to the $10 million limited recourse secured note program arranged by Standard Chartered Bank, according to a notice.

The interest basis was changed to SOFR plus 290 basis points with a 26.161 bps adjustment spread from Libor plus 290 bps from, but excluding, the interest period beginning Jan. 12, 2023.

The amendments were effective Oct. 11.

Merit Holdings is a holding company set up for the issuance of asset-backed securities.

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