Sound Harbor Loan Fund 2014-1 to redeem notes on May 1 via refinancing

By Tali Rackner

Minneapolis, April 4 – Sound Harbor Loan Fund 2014-1 Ltd./Sound Harbor Loan Fund 2014-1 LLC plans to redeem four classes of notes via a refinancing, according to a notice from trustee U.S. Bank NA.

The following will be redeemed at par plus accrued interest on May 1:

• $281.2 million of class A-1 notes, for a total redemption price of $283,004,749.41;

• $60.6 million of class A-2 notes, for a total redemption price of $61,088,501.65;

• $21.1 million of class B notes, for a total redemption price of $21,310,090.94; and

• $28.4 million of class C notes, for a total redemption price of $28,816,303.77.

As part of the transaction, Sound Harbor will issue $281.2 million of class A-1-R notes (Aaa (sf)/AAA (sf)/), $60.6 million of class A-2-R notes (Aa2 (sf)//), $21.1 million of class B-R notes (A2 (sf)//) and $28.4 million of class C-R notes (Baa3 (sf)//).

New York-based Allianz Global Investors U.S. LLC is the collateral manager.

© 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.