Ares Euro CLO I subordinated holders direct redemption of all notes

By Wendy Van Sickle

Columbus, Ohio, Oct. 20 – Ares Euro CLO I BV said holders of a majority of its class G subordinated notes have directed the issuer to redeem each class of its notes due 2024 on the Nov. 15 payment date.

According to a notice, the following principal amounts outstanding are to be redeemed at the prices listed:

• €0 of €151.2 million of class A-1 senior secured floating-rate notes for €0;

• €0 of €37.8 million of class A-2 senior secured floating-rate notes for €0;

• €0 of €52 million of class A-3 senior secured floating-rate notes for €0;

• €409,456.34 of €8 million of class B-1 senior secured deferrable floating-rate notes for €100.08;

• €15,230.24 of €13 million of class B-2 senior secured deferrable fixed-rate notes for €102.29;

• €36,902.22 of €19 million of class C senior secured deferrable floating-rate notes for €100.19;

• €166,111.11 of €26 million of class D senior secured deferrable floating-rate notes for €100.46;

• €224,250.00 of €13.5 million of class E senior secured deferrable floating-rate notes for €101.66; and

• €168,666.67 or €6 million of class F senior secured deferrable floating-rate notes for €102.81.

The subordinated notes, including €24.5 million of class G-1 subordinated notes, €5 million of class G-2 subordinated notes and €1.5 million of class Q combination notes, are also to be redeemed on the redemption date.

The redemption threshold amount is €96,991,721.06.

The Bank of New York Mellon Trust Co., NA is the trustee.

London-based Ares Management Ltd. is the investment manager.

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