Magellan Mortgages to redeem €1.53 billion of notes from five series

By Toni Weeks

San Diego, June 28 - Magellan Mortgages No. 5 Ltd. announced that it will fully redeem €1,529,250,000 of floating-rate notes from five note series on June 28, according to a filing with the Irish Stock Exchange.

The Dublin-based company will pay par plus accrued interest for all outstanding notes. Affected are the following notes:

• €1,005,000,000 of class A mortgage-backed floating-rate notes due 2064;

• €375 million of class B mortgage-backed floating-rate notes due 2064;

• €120 million of class C mortgage-backed floating-rate notes due 2064;

• €29 million of class D floating-rate notes due 2064; and

• €250,000 of class E notes due 2064.

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