Blackrock European CLO I asks subordinated holders to OK redemption

By Wendy Van Sickle

Columbus, Ohio, Feb. 9 – Blackrock European CLO I DAC is requesting its subordinated noteholders to consider a proposed redemption of its rated notes due 2029 to be effected on or about March 15, according to a notice.

The subordinated noteholders are being asked to vote on the proposal by written resolution no later than 12 p.m. ET on Feb. 14. Holders of at least 50% of the principal amount of the €50 million of subordinated notes must approve the proposal in order for it to pass.

U.S. Bank NA is the trustee.

Blackrock Investment Management (UK) Ltd. is the collateral manager.

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