Benefit Street Partners CLO X to redeem five note classes on Aug. 2

By Sarah Lizee

Olympia, Wash., July 23 – Benefit Street Partners CLO X, Ltd./Benefit Street Partners CLO X LLC received direction from its portfolio manager and holders of a majority of its subordinated notes to redeem or prepay five classes of notes using sale proceeds or refinancing proceeds, according to a notice from trustee U.S. Bank NA.

The following notes will be redeemed on Aug. 2 at par plus accrued interest:

• $320 million of class A-1 notes for a redemption price of $320,606,940.80;

• $60 million of class A-2 notes for a redemption price of $60,129,101.40;

• $30 million of class B notes for a redemption price of $30,076,550.70;

• $30 million of class C notes for a redemption price of $30,090,050.70; and

• $20 million of class D notes for a redemption price of $20,091,533.80.

The subordinated notes will not be redeemed.

New York-based Benefit Street Partners, LLC is the portfolio manager.

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