Elevation CLO 2016-5 plans to redeem five classes of secured notes

By Sarah Lizee

Olympia, Wash., Sept. 24 – Elevation CLO 2016-5, Ltd./Elevation CLO 2016-5, LLC plans to redeem all classes of its secured notes due July 2028, according to a notice.

The following will be redeemed using refinancing proceeds:

• $224 million of class A notes;

• $38.5 million of class B notes;

• $21 million of class C notes;

• $20.3 million of class D notes; and

• $18.2 million of class E notes.

Elevation will issue new class X, A-R, B-R, C-R, D-R and E-R notes.

Elevation also plans to issue additional junior subordinated notes. The existing subordinated notes will remain outstanding.

U.S. Bank NA is the trustee.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.