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 was declared ahead of the October 26, 2026 reset date. All existing class A-5 noteholders must retain their notes on the 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 was declared ahead of the October 26, 2026 r
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Oct 26, 2026 01:44 AM ET