Source - RNS
RNS Number : 7530L
Shasta CLO I Ltd
05 October 2016
 

SHASTA CLO I LTD.

SHASTA CLO I (DELAWARE) CORP.

 

NOTICE OF OPTIONAL REDEMPTION

 

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

 

September 30, 2016

 

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

 

Class

CUSIP*

(Rule 144A)

CUSIP*

(Reg S)

ISIN*

(Rule 144A)

ISIN*

(Reg S)

Class A-2L Notes

82017RAD1

G80726AD7

US82017RAD17

USG80726AD77

Class A-3L Notes

82017RAE9

G80726AE5

US82017RAE99

USG80726AE50

Class B-1L Notes

82017RAF6

G80726AF2

US82017RAF64

USG80726AF26

Class B-2L Notes

82017QAA9

N/A

US82017QAA94

XS0282165488

Preferred Shares

82017Q200

N/A

US82017Q2003

XS0282165561


 

To:       Those Additional Addressees listed on Schedule I hereto

 

Reference is made to  (i) that certain Indenture, dated as of January 24, 2007 (as amended and modified, the "Indenture"), by and among Shasta CLO I Ltd., as issuer (the "Issuer"), Shasta CLO I I (Delaware) Corp., as co-issuer (the "Co-Issuer" and, together with the Issuer, the "Co-Issuers"), and The Bank of New York Mellon Trust Company, National Association (formerly known as The Bank of New York Trust Company, National Association), as trustee (in such capacity, the "Trustee") and securities intermediary (in such capacity, the "Securities Intermediary") and (ii) that certain Paying and Transfer Agency Agreement, dated as of January 24, 2007 (as amended and modified, the "Paying and Transfer Agency Agreement"), by and between the Issuer and The Bank of New York Mellon Trust Company, National Association (formerly known as The Bank of New York Trust Company, National Association), as paying agent (in such capacity, the "Paying Agent") and transfer agent (in such capacity, the "Transfer Agent"). Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture or the Paying and Transfer Agency Agreement, as applicable.

 

            Pursuant to Section 9.1 of the Indenture and Section 6 of the Paying and Transfer Agency Agreement, a Majority of the Preferred Shares has directed the Issuer to redeem the Securities (the "Optional Redemption"). In accordance with Section 9.6 of the Indenture, on behalf of the Issuer, the Trustee and the Paying Agent hereby provide notice of the following information relating to the Optional Redemption:

 

The Optional Redemption Date for the Securities shall be October 20, 2016.

 

The Redemption Record Date shall be October 19, 2016.

 

The Optional Redemption Price of each Class of Notes shall be as follows:  

 

(i)         For the Class A-2L Notes, $31,887,462.91 (which equals the sum of the outstanding Aggregate Principal Amount of the Class A-2L Notes, plus the Cumulative Interest Amount with respect to the Class A-2L Notes as of the Optional Redemption Date);

 

(ii)        For the Class A-3L Notes, $26,092,065.42 (which equals the sum of the outstanding Aggregate Principal Amount of the Class A-3L Notes, plus the Cumulative Interest Amount with respect to the Class A-3L Notes as of the Optional Redemption Date);

 

(iii)       For the Class B-1L Notes, $18,096,397.60 (which equals the sum of the outstanding Aggregate Principal Amount of the Class B-1L Notes, plus the Cumulative Interest Amount with respect to the Class B-1L Notes as of the Optional Redemption Date); and

 

(iv)       For the Class B-2L Notes, $18,195,297.60 (which equals the sum of the outstanding Aggregate Principal Amount of the Class B-2L Notes, plus the Cumulative Interest Amount with respect to the Class B-2L Notes as of the Optional Redemption Date).

The Preferred Shares will be redeemed using the Excess Cash Flow that is attributable to Collateral Principal Collections.

 

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

 

Pursuant to Section 9.6(a) of the Indenture, the Issuer shall have the option to withdraw any such notice of redemption on or prior to the earlier of the Business Day prior to the Optional Redemption Date and the date before which a forward purchase contract is entered into pursuant to Section 9.7 of the Indenture, subject to certain requirements set forth in the Indenture.

 

Additional amounts may become available for distribution to Holders of Preferred Shares after the Optional Redemption Date and the distribution of such amounts (if any) may be made on dates other than Payment Dates. Accordingly, the Preferred Shares should not be surrendered at this time. The Paying Agent will send written notice to the Holders of Preferred Shares regarding surrender of the Preferred Shares at a later date.

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 and the Paying and Transfer Agency Agreement. Payment of the Optional Redemption Price on the Optional Redemption Date will only be made upon presentation and surrender of the Notes to the Trustee at the places set forth below on or prior to the Optional Redemption Date.

By First Class Registered/
Certified mail
:

The Bank of New York Mellon Trust Company,

National Association

Global Corporate Trust

P.O. Box 2320

Dallas, Texas 75221-2320

By Express Delivery Only:

The Bank of New York
Mellon Trust Company,

National Association

Global Corporate Trust

2001 Bryan Street, 9th Floor

Dallas, Texas 75201

By Hand Only:

The Bank of New York Mellon

101 Barclay Street

New York, New York, 10286

1st Floor East

Corporate Trust Window

 

The method of delivery is at the option and risk of the Holder.  On the Optional Redemption Date, the Optional 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 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, as applicable, for payment. Holders who are non-United States persons should submit an appropriate IRS Form W-8.

Please contact Jack Hung at The Bank of New York Mellon Trust Company, National Association at (713) 483-7020 or  [email protected] with questions.

 

THE BANK OF NEW YORK MELLON TRUST COMPANY, National Association, as

Trustee and Paying Agent


Schedule I

Additional Addressees

 

 

Issuer:

Shasta CLO I Ltd.

c/o MaplesFS Limited

P.O. Box 1093, Boundary Hall

Cricket Square

Grand Cayman, Cayman Islands KY1-1102

Attention: Directors

Facsimile: (345) 945-7100

Email: [email protected]

 

Co-Issuer:

Shasta CLO I (Delaware) Corp.

c/o Puglisi & Associates

850 Library Avenue, Suite 204

Newark, Delaware 19711

Attention: The Directors

Facsimile: (302) 738-7210

Email: [email protected]

 

Collateral Manager:

CVC Credit Partners, LLC

712 Fifth Avenue, 42nd Floor

New York, New York 10019

Facsimile: (215) 761-0415; (215) 640-6326

Email: [email protected]

 

DTC, Euroclear and Clearstream (if applicable):

[email protected]

[email protected]

[email protected]

[email protected]

[email protected]

 

 

Rating Agencies:

Moody's Investors Service
7 World Trade Center
250 Greenwich Street
New York, New York 10007
Facsimile: (212) 553-0355
Attention: CBO/CLO Monitoring

Email: [email protected]

 

S&P Global Ratings
55 Water Street, 41st Floor
New York, New York 10041
Facsimile: (212) 438-2664
Attention: CBO/CLO Surveillance

Email: [email protected]

 

Listing and Paying Agent:

Maples and Calder

75 St Stephen's Green

Dublin 2, Ireland

 

Irish Stock Exchange Announcement Office

The Irish Stock Exchange plc

Company Announcement Office

28 Anglesea Street

Dublin 2, Ireland

Electronic copy to be uploaded to website

provided by ISE

 

 

 

 


 

 

 




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
 
END
 
 
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