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Palmer Sqr CLO2014-1 (IRSH)

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Wednesday 15 November, 2017

Palmer Sqr CLO2014-1

Manager Notice of Second Refinancing

RNS Number : 5447W
Palmer Square CLO 2014-1 Limited
15 November 2017
 

Palmer Square Capital Management LLC

2000 Shawnee Mission Parkway, Suite 300

Mission Woods, KS 66205

 

Informational Notice with Respect to Potential Refinancing of the Secured Notes

November 14, 2017

To the Noteholders described below:

 


CUSIP*

Rule 144A

Reg S

ISIN*

Rule 144A

Reg S

Class A-1-R Notes

69688XAJ0

G69037AE2

US69688XAJ00

USG69037AE24

Class A-2-R Notes

69688XAL5

G69037AF9

US69688XAL55

USG69037AF98

Class B-R Notes

69688XAN1

G69037AG7

US69688XAN12

USG69037AG71

Class C-R Notes

69688XAQ4

G69037AH5

US69688XAQ43

USG69037AH54

Class D-R Notes

69688YAE9

G69036AC8

US69688YAE95

USG69036AC84

Subordinated Notes

69688Y AC3

G69036 AB0

US69688YAC30

USG69036AB02

 


CUSIP*

Certificated

ISIN*

Certificated

Class A-1-R Notes

69688XAK7

US69688XAK72

Class A-2-R Notes

69688XAM3

US69688XAM39

Class B-R Notes

69688XAP6

US69688XAP69

Class C-R Notes

69688XAR2

US69688XAR26

Class D-R Notes

69688YAF6

US69688YAF60

Subordinated Notes

69688Y AD1

US69688YAD13

 

 

*         No representation is made as to the correctness of CUSIP or ISIN information either as printed on the Notes or as contained in this notice. Such numbers are included solely for the convenience of the Holders.

Reference is made to the indenture, dated as of June 5, 2014 (as amended by the First Supplemental Indenture, dated as of January 17, 2017, the "Indenture") among Palmer Square CLO 2014-1, Ltd., as Issuer, Palmer Square CLO 2014-1, LLC, as Co-Issuer, and Citibank, N.A., as Trustee. Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Indenture.

The purpose of this notice is to inform the Holders that the Issuer, the Collateral Manager and the Trustee have received a revocable written direction from a Majority of the Subordinated Notes and the Collateral Manager to redeem in whole the Secured Notes via a Refinancing in accordance with Article IX of the Indenture. The Collateral Manager has begun to explore the possibility of effecting such a Refinancing. However, the written direction of the Majority of the Subordinated Notes and the Collateral Manager may by its terms be revoked, and even if not so revoked there is no assurance that a potential Refinancing will be successful or will not be withdrawn pursuant to Section 9.4(c) of the Indenture. We understand that, should such a Refinancing be successful and the redemption occur, the intent is for the Secured Notes to be redeemed on or about January 17, 2018 using Refinancing Proceeds.

This informational notice does not qualify as a notice of redemption pursuant to Section 9.4(a) of the Indenture, and the Refinancing of such Class(es) remains subject to withdrawal, in whole or in part by Class, pursuant to Section 9.4(c) of the Indenture. Additional notices and documentation will be provided to Holders as required by the Indenture.

NOTE:  THIS NOTICE CONTAINS IMPORTANT INFORMATION THAT IS OF INTEREST TO THE REGISTERED HOLDERS AND BENEFICIAL OWNERS OF THE NOTES.  IF APPLICABLE, ALL DEPOSITORIES, CUSTODIANS, AND OTHER INTERMEDIARIES RECEIVING THIS NOTICE ARE REQUESTED TO EXPEDITE RE-TRANSMITTAL TO THE REGISTERED HOLDERS AND BENEFICIAL OWNERS OF THE NOTES IN A TIMELY MANNER.

Should you have any questions, please contact Chris Long at [email protected]

 

Palmer Square Capital Management LLC, as Collateral Manager

 

 

 

This announcement has been issued through the Companies Announcement Service of

the Irish Stock Exchange.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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