Source - RNS
RNS Number : 5998L
Grant Grove CLO Limited/Corp
04 October 2016
 

 

GRANT GROVE CLO, LTD.

GRANT GROVE CLO, CORP.

 

NOTICE OF OPTIONAL REDEMPTION

 

Date of Notice:  September 22, 2016

 

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

 

To:       The Holders of the Secured Notes and the Subordinated Securities (collectively, the "Securities") described as follows:

 

Class

Designation

CUSIP*

Rule 144A

CUSIP*

Reg D

CUSIP*

Reg S

ISIN*

Reg S

Common Code

(Euroclear)

Class B Notes

38808RAB0

N/A

G4066DAB3

USG4066DAB31

28160364

Class C Notes

38808RAC8

N/A

G4066DAC1

USG4066OAC14

28160399

Class D Notes

38808RAD6

N/A

G4066DAD9

USG4066DAD96

28160445

Class E Notes

38808NAA1

N/A

G40664AA5

USG40664AA52

28160461

Subordinated Securities

38808NAB9

38808NAC7

G40664AB3

USG40664A836

28160496

           

To: Those Additional Parties Listed on Schedule I hereto

 

Reference is made to that certain Indenture dated as of January 25, 2007 (as amended, supplemented, restated and otherwise modified from time to time, the "Indenture") among Grant Grove CLO, Ltd., as issuer (the "Issuer"), Grant Grove CLO, Corp., as co-issuer (the "Co-Issuer", and together with the Issuer, the "Issuers") and U.S. Bank National Association (as successor trustee to Wilmington Trust Company, as successor trustee to LaSalle Bank National Association), as trustee (when acting in such capacity, the "Trustee").  Capitalized terms used and not defined herein shall have the meanings provided in the Indenture.

 

            Pursuant to Section 9.1(a) of the Indenture, the Holders of the Redemption Control Class have directed the Issuer to redeem the Securities (the "Optional Redemption"). In accordance with Section 9.3 of the Indenture, the Trustee hereby provides notice of the following information relating to the Optional Redemption:

 

The Redemption Date shall be October 11, 2016.

 

The Redemption Record Date shall be September 26, 2016.

 

The Secured Note Redemption Prices (plus accrued and unpaid interest for each Class of Secured Notes) shall be as follows:  

 

(i)               For the Class B Notes - $14,095,124.17 (which equals the Secured Note Redemption Price of the Class B Notes, plus accrued unpaid interest as of the Redemption Date);

 

(ii)              For the Class C Notes - $15,798,269.81 (which equals the Secured Note Redemption Price of the Class C Notes, plus accrued unpaid interest as of the Redemption Date);

 

(iii)             For the Class D Notes - $14,318,372.69 (which equals the Secured Note Redemption Price of the Class D Notes, plus accrued unpaid interest as of the Redemption Date); and

 

(iv)             For the Class E Notes - $7,485,106.66 (which equals the Secured Note Redemption Price of the Class E Notes, plus accrued unpaid interest as of the Redemption Date).

 

On the Redemption Date, each Class of Securities Outstanding is being paid in full and interest on the Securities shall cease to accrue on the Redemption Date. All of the Securities are being redeemed on the Redemption Date.

 

The Issuer may withdraw such election of Optional Redemption at any time on or prior to the sixth Business Day prior to the Redemption Date, subject to the conditions set forth in the Indenture.

 

Notwithstanding anything herein to the contrary, the completion of the Optional Redemption described herein is subject to the satisfaction of any additional conditions set forth in the Indenture. Payment of the Secured Note Redemption Prices on the Redemption Date will only be made upon presentation and surrender of the Securities to the Trustee at the place set forth below on or prior to the Redemption Date.

U.S. Bank National Association

Attn:  Bondholder Services-EP-WS2N

111 Fillmore Avenue East

St. Paul, MN 55107

 



The method of delivery is at the option and risk of the Holder.  On the Redemption Date, the Secured Note Redemption Price will become due and payable.

Under current United States federal income tax law, a trustee making payment of interest or principal on securities may be obligated to apply backup withholding to payments of the interest or principal payable to a holder who (i) has failed to furnish the trustee with a valid taxpayer identification number and certifications that the holder is not subject to backup withholding under the Internal Revenue Code of 1986, as amended (the "Code") and that the holder is a United States person (including a U.S. resident alien) as defined by the Code or (ii) has failed to provide appropriate certification to establish that the holder is not a United States person.  Holders of Securities who are United States persons and wish to avoid the application of these provisions should submit a completed IRS Form W-9 when presenting the Securities for payment.  Holders of Securities who are non-United States persons should submit an appropriate IRS Form W-8. 

This notice is being sent to Holders by U.S. Bank National Association in its capacity as Trustee at the request of the Issuer.  Questions may be directed to the Trustee by contacting Jeffrey Stone at telephone (617) 603-6538 or by e-mail at [email protected]

 

U.S. Bank National Association, as Trustee

 



SCHEDULE I

 

Cc:       Grant Grove CLO, Ltd.,

as Issuer

c/o MaplesFS Limited

PO Box 1093

Boundary Hall

Cricket Square

Grand Cayman

KY1-1102

Attention: Directors

            Facsimile No.: (345) 945-7100

 

            Grant Grove CLO, Corp.,

            as Co-Issuer

850 Library Avenue, Suite 204

Newark, Delaware 19711

Attention: Director

 

 

Tall Tree Investment Management, LLC

as Collateral Manager

222 S. Riverside Plaza, Suite 620

Chicago, IL  60606

Attn: William Lenga

Facsimile N0: 866-323-2014

[email protected]

 

Moody's Investors Service, Inc.

7 World Trade Center

250 Greenwich Street

New York, New York 10007

Facsimile: (212) 553-0355

Attention: CBO/CLO Monitoring-Grant Grove CLO, Ltd.

With electronic copy to:

[email protected]

 

Standard & Poor's

55 Water Street, 41st Floor

New York, New York 10041-0003

Attention:  CDO Surveillance

With an electronic copy to [email protected]

 

Arthur Cox Listing Services Limited, as Listing Agent

Earls Fort Center, Earls Fort Terrace

Dublin 2, Ireland

Facsimile No.: (353) 1 618 0618

Attention: Helen Berrill

Email: [email protected]

 

Custom House Administration & Corporate Services Ltd., as Irish Paying Agent

25 Eden Quay

Dublin 1, Ireland

Facsimile No.: (353) 1 878 0827

Attention: Evelyn Meenaghan

 

DTC, Euroclear and Clearstream (if applicable):

[email protected]

[email protected]

[email protected]

[email protected]

[email protected]

 


 

 

This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange

 



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


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