HillMark Funding directed to redeem secured and subordinated notes

By Sarah Lizee

Olympia, Wash., Sept. 10 – HillMark Funding Ltd./HillMark Funding Corp. received notice from Tetragon Financial Group Master Fund Ltd., the beneficial owner of $30.75 million principal amount of subordinated notes, directing a redemption of all secured and subordinated notes.

The notes will be redeemed on Nov. 21, provided that the subordinated notes will not be cancelled until all collateral obligations have been liquidated and the proceeds are distributed in line with the priority of payments.

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

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