Ocean Trails CLO IV directed to redeem senior notes on Aug. 29

By Tali Rackner

Minneapolis, Aug. 2 – Ocean Trails CLO IV received direction from less than a majority of its subordinated noteholders to refinance one or more classes of senior notes on Aug. 29, according to a notice.

Ocean Trails said it expects to receive additional noteholder direction to achieve a majority.

The following are affected: class X, A, B, C, D, E and F notes, along with the subordinated notes and preferred shares.

U.S. Bank NA is the trustee.

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