What changed
Sufficient committed purchasers were not obtained for all tendered class A-5 notes at the spread proposed by the remarketing agent, so a failed remarketing has been declared. All existing class A-5 noteholders must retain their notes on the October 26, 2026 reset date. The interest rate becomes the failed remarketing rate of SOFR plus 0.75% per annum, with a three-month reset period and the next reset date on January 25, 2027.
Why it matters
Sufficient committed purchasers were not obtained for all tendered class A-5 notes at the spread proposed by the remarketing agent, so a failed remarketing has been declared. All existing class A-5 no
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Oct 21, 2026 08:57 PM ET