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KVK CLO 2014-2 LTD (IRSH)

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Thursday 25 October, 2018

KVK CLO 2014-2 LTD

Notice of Optional Redemption

RNS Number : 1659F
KVK CLO 2014-2 LTD
25 October 2018
 

Corporate Trust Services

9062 Old Annapolis Road

Columbia, MD 21045-1951

MAC: R1204-010


NOTICE OF Optional Redemption

 

KVK CLO 2014-2 LTD.

KVK CLO 2014-2 LLC

October 24, 2018

 

To:       The parties listed on Schedule I hereto.

 

Ladies and Gentlemen:

 

            Reference is made to that certain Indenture dated as of June 26, 2014 (as amended, modified or supplemented, the "Indenture") among KVK CLO 2014-2 Ltd., as Issuer (the "Issuer"), KVK CLO 2014-2 LLC, as Co-Issuer (the "Co-Issuer," and together with the Issuer, the "Co-Issuers") and Wells Fargo Bank, National Association, as Trustee (the "Trustee").  Capitalized terms used herein without definition shall have the meanings given to such terms in the Indenture.

 

            I.          Notice to Nominees and Custodians.

 

            If you act as or hold Notes as a nominee or custodian for or on behalf of other persons, please transmit this notice immediately to the beneficial owner of such Notes or such other representative who is authorized to take actions.  Your failure to act promptly in compliance with this paragraph may impair the chance of the beneficial owners on whose behalf you act to take any appropriate actions concerning the matters described in this notice.

 

II.        Notice of Optional Redemption.

 

            Pursuant to Section 9.2(a)(i) of the Indenture, a Majority of the Subordinated Notes directed the Co-Issuers to redeem the Rated Notes in whole from Sale Proceeds.  In accordance with Section 9.3 of the Indenture and at the direction of the Issuer, the Trustee hereby provides notice of the following information relating to the Optional Redemption:

 

            All of the Rated Notes will be redeemed in full, and interest on such Rated Notes shall cease to accrue on the Redemption Date.  The Subordinated Notes will not be redeemed in full on the Redemption Date.

            The Redemption Date will be November 15, 2018.

            The Record Date will be November 14, 2018 (with respect to the Global Notes) and October 31, 2018 (with respect to the Certificated Notes).

            The principal amount of Rated Notes to be redeemed is:

            for the Class A-R Notes - U.S. $229,802,754.96;

            for the Class B-R notes - U.S. $67,500,000;

            for the Class C-R Notes - U.S. $50,000,000;

            for the Class D Notes - U.S. $32,000,000; and

            for the Class E Notes - U.S. $28,000,000.

            The Redemption Price of the Notes shall be:

            for the Class A-R Notes - U.S. $230,518,371.02 (an amount equal to 100% of the Aggregate Outstanding Amount of the Class A-R Notes plus accrued and unpaid interest thereon to the Redemption Date);

            for the Class B-R Notes - U.S. $67,737,516.77 (an amount equal to 100% of the Aggregate Outstanding Amount of the Class B-R Notes plus accrued and unpaid interest thereon, to the Redemption Date);

            for the Class C-R Notes - U.S. $50,214,688.35 (an amount equal to 100% of the Aggregate Outstanding Amount of the Class C-R Notes plus accrued and unpaid interest thereon (including interest on any accrued and unpaid Deferred Interest), to the Redemption Date);

            for the Class D Notes - U.S. $32,170,467.21 (an amount equal to 100% of the Aggregate Outstanding Amount of the Class D Notes plus accrued and unpaid interest thereon (including interest on any accrued and unpaid Deferred Interest), to the Redemption Date); and

            for the Class E Notes - U.S. $28,173,269.92 (an amount equal to 100% of the Aggregate Outstanding Amount of the Class E Notes plus accrued and unpaid interest thereon (including interest on any accrued and unpaid Deferred Interest), to the Redemption Date).

            Payment of the Redemption Price on the Rated Notes to be redeemed will be made only upon presentation and surrender of such Notes at the offices of the Trustee.  To surrender Notes, please present and surrender the Notes to one of the following places by one of the following methods:

By Mail or Courier Service:

Wells Fargo Bank, N.A.

Corporate Trust Operations

MAC N9300-070

600 South Fourth Street

Minneapolis, MN 55479

By Registered or Certified Mail:

Wells Fargo Bank, N.A.

Corporate Trust Operations

MAC N9300-070

P.O. Box 1517

Minneapolis, MN 55480-1517

 

 

            Under the provisions of the Tax Equity and Fiscal Responsibility Act of 1982, as amended in 1992, 2001 and most recently, the Jobs and Growth Tax Relief Reconciliation Act of 2003 (the "Act"), the Paying Agent making payment of interest or principal on securities may be obligated to withhold a percentage of the principal of a holder who has failed to furnish the Registrar with a valid taxpayer identification number, certification that the number supplied is correct, and that the holder is not subject to backup withholding under the Act.  Holders of the Notes who wish to avoid the application of these provisions should submit either a completed IRS (Internal Revenue Service) form W-9 (use only if the holder is a U.S. person, including a resident alien), or the appropriate form W-8 (use only if you are neither a U.S. person or a resident alien), when presenting the Notes for payment.  See IRS Publication 515, Withholding of Tax on Nonresident Aliens and Foreign Entities.  Publication 515, W-8 forms and W-9 forms and instructions are available through the IRS via their web site at www.irs.gov.

 

            All questions should be directed to the attention of James Lassen by telephone at (443) 367-2832, by e-mail at [email protected], by facsimile at (866) 493-8602, or by mail addressed to Wells Fargo Bank, National Association, Collateralized Debt Obligations, Attn.: James Lassen, MAC R1204-010, 9062 Old Annapolis, Columbia, MD 21045-1951.  The Trustee may conclude that a specific response to particular inquiries from individual Holders is not consistent with equal and full dissemination of material information to all Holders.  Holders of Notes should not rely on the Trustee as their sole source of information.  The Trustee does not make recommendations or give investment advice herein or as to the Notes generally.

 

                                                                                    WELLS FARGO BANK,

                                                                                    NATIONAL ASSOCIATION,

as Trustee

 



SCHEDULE I

 

Holders of the Notes:*

Notes

CUSIP*

Rule 144A

CUSIP*

Reg S

Class A-R Notes

48274MAM1

G89894AG7

Class B-R Notes

48274MAP4

G89894AH5

Class C-R Notes

48274MAR0

G89894AJ1

Class D Notes

48274MAE9

G89894AE2

Class E Notes

48274NAA5

G89893AA2

Subordinated Notes

48274NAB3

G89893AB0

 

 

Issuer:

KVK CLO 2014-2 Ltd.

c/o Estera Trust (Cayman) Limited

Clifton House, 75 Fort Street

P.O. Box 1350

Grand Cayman KY1-1108, Cayman Islands

Attn: The Directors

Email: [email protected]

 

Co-Issuer:      

KVK CLO 2014-2 LLC

c/o Puglisi & Associates

850 Library Avenue, Suite 204

Newark, Delaware 19711

Attn: Independent Manager

 

Collateral Manager:

THL Credit Advisors LLC

227 W. Monroe Street, Suite 3200
Chicago, Illinois 60606

 

Collateral Administrator/Information Agent:

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

 

Rating Agencies:

S&P Global Ratings:

E-mail: [email protected]

Moody's:

E-mail: [email protected]

 

Euronext Dublin (f/k/a the Irish Stock Exchange):

28 Anglesea Street

Dublin 2, Ireland

 

This announcement has been issued through the Companies Announcement Service of Euronext Dublin.

 

 



*  The Trustee shall not be responsible for the use of the CUSIP, CINS, ISIN or Common Code numbers selected, nor is any representation made as to their correctness indicated in the notice or as printed on any Note. The numbers are included solely for the convenience of the Holders. 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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