Dryden 35 Euro CLO 2014 holders mull redemption via refinancing

By Sarah Lizee

Olympia, Wash., Nov. 14 – Dryden 35 Euro CLO 2014 BV said its subordinated noteholders are exploring a redemption in whole of its rated notes due 2027 via refinancing, according to a notice.

Previously, the holders were considering a redemption via liquidation, as reported.

Holders of the following were notified:

• €232.1 million of class A-1A senior secured floating-rate notes;

• €15.8 million of class A-1B senior secured fixed-rate notes;

• €19 million of class B-1A senior secured floating-rate notes;

• €33.7 million of class B-1B senior secured fixed-rate notes;

• €31.9 million of class C mezzanine secured deferrable floating-rate notes;

• €21.2 million of class D mezzanine secured deferrable floating-rate notes;

• €27.1 million of class E mezzanine secured deferrable floating-rate notes;

• €14.5 million of class F mezzanine secured deferrable floating-rate notes; and

• €47.3 million of subordinated notes.

Deutsche Trustee Co. Ltd. is the trustee.

PGIM Ltd. is the collateral manager.

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