Dryden 37 Senior Loan Fund seeks holder approval to amend note terms

By Tali Rackner

Norfolk, Va., Dec. 28 – Dryden 37 Senior Loan Fund/Dryden 37 Senior Loan Fund LLC is seeking approval from holders of its class A notes to amend the terms of its note indenture, according to a notice from trustee U.S. Bank NA.

Under the proposed amendment, Dryden 37 is looking to add text to the redemption/repricing terms so that if a majority of the subordinated noteholders directs or consents to a refinancing or repricing, the refinancing or refinancing will not be effective unless “the issuer shall have satisfied the Moody’s rating condition with respect to the combination notes (determined for this purpose as if the combination notes were the only notes rated by Moody’s) in connection with such refinancing (or repricing).”

Consents are due by 5 p.m. ET on Jan. 18.

Questions may be directed to U.S. Bank (312 332-8146 or dikran.terian@usbank.com).

PGIM, Inc. is the collateral manager.

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