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Friday 16 October, 2009

Claris Limited

Notice

RNS Number : 9579A
Claris Limited
16 October 2009
 

Company Announcement

Claris Limited

(the "Issuer")

22 Grenville Street

St. Helier

Jersey JE4 8PX


Series 82/2006 Tranche 1 EUR 50,000,000 Algebra Floating Rate Credit Linked Notes due 2017 (ISIN: XS0275320637), (the "Notes")


Date: 16 October 2009.


Notice of Credit Event and Final Valuation Notice


We refer to the Swap Agreement between the Issuer and Société Générale (the "Protection Buyer") entered into in relation to the Notes, as evidenced by the confirmation in respect of the Notes. 

Notice is hereby given that the Issuer has received a Credit Event Notice and a Notice of Publicly Available Information (the "Notices") from the Protection Buyer in relation to certain Reference Entities as set out in the table below and more particularly described in the schedule hereto.

Following the receipt of such Notices on the Event Determination Date, Final Prices and Cash Settlement Amounts were determined in accordance with the terms and conditions of the Swap Agreement, and are set out in the table below.


Notes 

Reference Entity

CDO Reference Obligation/ Mezzanine Reference Obligation

Date of Notice 

Valuation Date

Final Price

(% of Ref. Entity Notional Price)

Loss Amount

Cash Settlement Amount

Claris series 82/2006

 

Kaupþing Banki hf

None

03/11/08

15/01/09

6.63

36,310,555.56

0

Lehman Brothers Holdings Inc

None

08/10/08

20/10/08

8.625

35,534,722.22

0


Capitalised terms used but not defined in this notice shall, as the context requires have the meanings given to them in the offering circular supplement relating to the Notes.

For further information please contact:

Claris Limited

22 Grenville Street

St. Helier

Jersey JE4 8PX



Schedule

Credit Event Notice and Notice of Publicly Available Information


A Bankruptcy Credit Event occurred with respect to Kaupþing Banki hf on or around October 9, 2008, as a result of the appointment of a winding-up committee by the Icelandic Financial Supervisory Authority and various associated events.

A Bankruptcy Credit Event occurred with respect to Lehman Brothers Holdings Inc. on or around September 15, 2008, when the Lehman Brothers Holdings Inc. filed for Chapter 11 protection in U.S. Bankruptcy Court in Southern District of New York.








Company Announcement

Claris Limited

(the "Issuer")

22 Grenville Street

St. Helier

Jersey JE4 8PX


Series 41/2005 Tranche 1 EUR 15,000,000 Voltaire Floating Rate Credit Linked Notes due 2010 (ISIN: XS0216368273)

Series 44/2005 Tranche 1 USD 25,000,000 Voltaire Floating Rate Credit Linked Notes due 2010 (ISIN: XS0216368786)

Series 65/2006 Tranche 1 USD 20,000,000 Voltaire Floating Rate Credit Linked Notes due 2011 (ISIN: XS0243080495)


(Each a "Series of Notes" and together, the "Notes")



Date: 16 October 2009.


Notice of Credit Event and Final Valuation Notice

We refer to the Swap Agreements between the Issuer and Société Générale (the "Protection Buyer") entered into in relation to the Notes, as evidenced by confirmations in respect of each Series of Notes. 

Notice is hereby given that the Issuer has received a Credit Event Notice and a Notice of Publicly Available Information (the "Notices") from the Protection Buyer in relation to certain Reference Entities as set out in the table below and more particularly described in the schedule hereto.

Following the receipt of such Notices on the Event Determination Date, Final Prices and Cash Settlement Amounts have been determined in accordance with the terms and conditions of the Swap Agreements, as set out in the table below.

Notes 





Reference Entity

CDO Reference Obligation/ Mezzanine Reference Obligation

Date of Notice 

Valuation Date

Final Price

(% of Ref. Entity Notional Price)

Loss Amount

Cash Settlement Amount

Claris series 41/2005

Abitibi-Consolidated Inc 

7

17/04/09

28/04/09

3.25

181,406,250

0.00

Glitnir Banki hf

 

2

13/05/09

29/07/09

16

157,500,000

0.00

5

13/05/09

29/07/09

16

157,500,000

0.00

JSC BTA Bank

 

3

02/06/09

19/06/09

10.25

168,281,250

0.00

7

02/06/09

19/06/09

10.25

168,281,250

0.00

Kaupþing Banki hf

 

 

 

1

16/03/09

04/06/09

8.5

171,562,500

0.00

2

16/03/09

04/06/09

8.5

171,562,500

0.00

4

16/03/09

04/06/09

8.5

171,562,500

0.00

5

16/03/09

04/06/09

8.5

171,562,500

0.00

Landsbanki Íslands hf

 

 

2

11/05/09

28/07/09

2.5

182,812,500

0.00

3

11/05/09

28/07/09

2.5

182,812,500

0.00

5

11/05/09

28/07/09

2.5

182,812,500

0.00

Lear Corporation

 

3

20/07/09

30/07/09

38.5

115,312,500

0.00

4

20/07/09

30/07/09

38.5

115,312,500

0.00

Lehman Brothers Holdings Inc

 

 

 

1

12/01/09

27/03/09

13.625

161,953,125

0.00

3

12/01/09

27/03/09

13.625

161,953,125

0.00

5

12/01/09

27/03/09

13.625

161,953,125

0.00

7

12/01/09

27/03/09

13.625

161,953,125

0.00

Tribune Company

 

6

12/06/09

26/08/09

0.25

187,031,250

0.00

7

12/06/09

26/08/09

0.25

187,031,250

0.00

Claris series 44/2005

Glitnir Banki hf

 

2

13/05/09

29/07/09

16

157,500,000

0.00

5

13/05/09

29/07/09

16

157,500,000

0.00

Kaupþing Banki hf

 

 

 

1

16/03/09

04/06/09

8.5

171,562,500

0.00

2

16/03/09

04/06/09

8.5

171,562,500

0.00

4

16/03/09

04/06/09

8.5

171,562,500

0.00

5

16/03/09

04/06/09

8.5

171,562,500

0.00

Landsbanki Íslands hf

 

 

2

11/05/09

28/07/09

2.5

182,812,500

0.00

3

11/05/09

28/07/09

2.5

182,812,500

0.00

5

11/05/09

28/07/09

2.5

182,812,500

0.00

Lehman Brothers Holdings Inc

 

 

 

1

12/01/09

27/03/09

13.625

161,953,125

0.00

3

12/01/09

27/03/09

13.625

161,953,125

0.00

5

12/01/09

27/03/09

13.625

161,953,125

0.00

7

12/01/09

27/03/09

13.625

161,953,125

0.00

Tribune Company

 

6

12/06/09

26/08/09

2.5

187,031,250

0.00

7

12/06/09

26/08/09

2.5

187,031,250

0.00

Claris series 65/2006

Abitibi-Consolidated Inc 

7

17/04/09

28/04/09

3.25

181,406,250

0.00

Glitnir Banki hf

 

2

13/05/09

29/07/09

16

157,500,000

0.00

5

13/05/09

29/07/09

16

157,500,000

0.00

JSC BTA Bank

 

3

02/06/09

19/06/09

10.25

168,281,250

0.00

7

02/06/09

19/06/09

10.25

168,281,250

0.00

Kaupþing Banki hf

 

 

 

1

16/03/09

04/06/09

8.5

171,562,500

0.00

2

16/03/09

04/06/09

8.5

171,562,500

0.00

4

16/03/09

04/06/09

8.5

171,562,500

0.00

5

16/03/09

04/06/09

8.5

171,562,500

0.00

Landsbanki Íslands hf

 

 

2

11/05/09

28/07/09

2.5

182,812,500

0.00

3

11/05/09

28/07/09

2.5

182,812,500

0.00

5

11/05/09

28/07/09

2.5

182,812,500

0.00

Lear Corporation

 

3

20/07/09

30/07/09

38.5

115,312,500

0.00

4

20/07/09

30/07/09

38.5

115,312,500

0.00

Lehman Brothers Holdings Inc

 

 

 

1

12/01/09

27/03/09

13.625

161,953,125

0.00

3

12/01/09

27/03/09

13.625

161,953,125

0.00

5

12/01/09

27/03/09

13.625

161,953,125

0.00

7

12/01/09

27/03/09

13.625

161,953,125

0.00

Tribune Company

 

6

12/06/09

26/08/09

0.25

187,031,250

0.00

7

12/06/09

26/08/09

0.25

187,031,250

0.00


Capitalised terms used but not defined in this notice shall, as the context requires have the meanings given to them in the offering circular supplement relating to that Series of Notes. 

For further information please contact:

Claris Limited

22 Grenville Street    

St. Helier

Jersey JE4 8PX



Schedule

Credit Event Notice and Notice of Publicly Available Information


A Failure to Pay Credit Event occurred with respect to Abitibi-Consolidated Inc. on March 18, 2009 when the Abitibi-Consolidated Inc. failed to make payment on its loan debt.


A Bankruptcy Credit Event occurred with respect to Glitnir Banki hf on or around October 7, 2008, when a receivership committee was appointed with respect to the Glitnir Banki hf.


A Failure to Pay Credit Event occurred with respect to JSC BTA Bank on April 29, 2009, when the JSC BTA Bank was reported to have failed to repay a $550 million loan as of April 14, 2009.


A Bankruptcy Credit Event occurred with respect to Kaupþing Banki hf on or around October 9, 2008, as a result of the appointment of a winding-up committee by the Icelandic Financial Supervisory Authority and various associated events.


A Bankruptcy Credit Event occurred with respect to Landsbanki Íslands hf on or around October 7, 2008, when a receivership committee was appointed with respect to the Landsbanki Íslands hf.


A Failure to Pay Credit Event occurred on July 2, 2009 in respect of Lear Corporation, a global supplier of automotive seating systems, electrical distribution systems and electronic products when Lear Corporation confirmed that it did not make the required interest payments on its senior notes during the 30-day grace period.


A Bankruptcy Credit Event occurred with respect to Lehman Brothers Holdings Inc. on or around September 15, 2008, when the Lehman Brothers Holdings Inc. filed for Chapter 11 protection in U.S. Bankruptcy Court in Southern District of New York.


A Bankruptcy Credit Event occurred with respect to Tribune Company on December 9, 2008, when the Tribune Company announced that it is voluntarily restructuring its debt obligations under the protection of Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.







Company Announcement

Claris Limited

(the "Issuer")

22 Grenville Street

St. Helier

Jersey JE4 8PX


Series 97/2007 Tranche 1 EUR 50,000,000 Drachenburg Floating Rate Credit Linked Notes due 2015 (ISIN: XS0291519204)

Series 98/2007 Tranche 1 EUR 10,000,000 Drachenburg Floating Rate Credit Linked Notes due 2015 (ISIN: XS0291522927)

 (Each a "Series of Notes" and together, the "Notes")



Date: 16 October 2009.


Notice of Credit Event and Final Valuation Notice


We refer to the Swap Agreements between the Issuer and Société Générale (the "Protection Buyer") entered into in relation to the Notes, as evidenced by confirmations in respect of each Series of Notes. 

Notice is hereby given that the Issuer has received a Credit Event Notice and a Notice of Publicly Available Information (the "Notices") from the Protection Buyer in relation to certain Reference Entities as set out in the table below and more particularly described in the schedule hereto.

Following the receipt of such Notices on the Event Determination Date, Final Prices and Cash Settlement Amounts have been determined in accordance with the terms and conditions of the Swap Agreements, as set out in the table below.


Notes 





Reference Entity

CDO Reference Obligation/ Mezzanine Reference Obligation

Date of Notice 

Valuation Date

Final Price

(% of Ref. Entity Notional Price)

Loss Amount

Cash Settlement Amount


Claris series 97/2007

 

Bradford & Bingley PLC

None

29/07/09

07/08/09

94.625

1,075,000

0.00

Federal Home Loan Mortgage Corporation (also known as "Freddie Mac")

None

02/10/08

14/10/08

94

1,200,000

0.00

Federal National Mortgage Association (also known as "Fannie Mae")

None

02/10/08

14/10/08

91.51

1,698,000

0.00

Glitnir Banki hf

None

31/10/08

07/11/08

3

19,400,000

0.00

Kaupþing Banki hf

None

03/11/08

07/11/08

6.625

18,675,000

0.00

Landsbanki Íslands hf

None

30/10/08

07/11/08

1.25

19,750,000

0.00

Lehman Brothers Holdings Inc

None

08/10/08

20/10/08

8.625

18,275,000

0.00

Syncora Guarantee Inc. (fka XL Capital Assurance Inc.)

None

22/05/09

05/06/09

15

17,000,000

0.00


CLARIS series 98/2007

Federal Home Loan Mortgage Corporation (also known as "Freddie Mac")

 

Coupon

02/10/08

14/10/08

94

1,200,000

0.00

Principal

02/10/08

14/10/08

94

1,200,000

0.00

Federal National Mortgage Association (also known as "Fannie Mae")

 

Coupon

02/10/08

14/10/08

91.51

1,698,000

0.00

Principal

02/10/08

14/10/08

91.51

1,698,000

0.00

Glitnir Banki hf

 

Coupon

31/10/08

12/11/08

3

19,400,000

5,105,263.16

Principal

31/10/08

12/11/08

3

19,400,000

3,344,600.00

Kaupþing Banki hf

 

Coupon

03/11/08

14/11/08

6.625

18,675,000

4,914,473.68

Principal

03/11/08

14/11/08

6.625

18,675,000

3,735,000.00

Landsbanki Íslands hf

 

Coupon

30/10/08

12/11/08

1.25

19,750,000

5,197,368.42

Principal

30/10/08

12/11/08

1.25

19,750,000

0.00

Lehman Brothers Holdings Inc

 

Coupon

08/10/08

20/10/08

8.625

18,275,000

4,098,157.89

Principal

08/10/08

20/10/08

8.625

18,275,000

0.00

Syncora Guarantee Inc. (fka XL Capital Assurance Inc.)

 

Coupon

22/05/09

05/06/09

15

17,000,000

4,473,684.21

Principal

22/05/09

05/06/09

15

17,000,000

3,400,000.00


Capitalised terms used but not defined in this notice shall, as the context requires have the meanings given to them in the offering circular supplement relating to that Series of Notes.

For further information please contact:

Claris Limited

22 Grenville Street

St. Helier

Jersey JE4 8PX



Schedule

Credit Event Notice and Notice of Publicly Available Information


A Failure to Pay Credit Event occurred with respect to Bradford & Bingley PLC on June 30, 2009 following confirmation that it did not pay its 16 June coupon before the grace period expired on 30 June, 2009 in respect of the GBP 125m 6.625% notes maturing 16 June 2023.


A Bankruptcy Credit Event occurred with respect to Federal Home Loan Mortgage Corporation (also known as "Freddie Mac") on September 7, 2008, when the U.S. Federal Housing Finance Agency placed the Federal Home Loan Mortgage Corporation under conservatorship.


A Bankruptcy Credit Event occurred with respect to Federal National Mortgage Association (also known as "Fannie Mae") on September 7, 2008, when the U.S. Federal Housing Finance Agency placed the Federal National Mortgage Association under conservatorship.


A Bankruptcy Credit Event occurred with respect to Glitnir Banki hf on or around October 7, 2008, when a receivership committee was appointed with respect to the Glitnir Banki hf.


A Bankruptcy Credit Event occurred with respect to Kaupþing Banki hf on or around October 9, 2008, as a result of the appointment of a winding-up committee by the Icelandic Financial Supervisory Authority and various associated events.


A Bankruptcy Credit Event occurred with respect to Landsbanki Íslands hf on or around October 7, 2008, when a receivership committee was appointed with respect to the Landsbanki Íslands hf.


A Bankruptcy Credit Event occurred with respect to Lehman Brothers Holdings Inc. on or around September 15, 2008, when the Lehman Brothers Holdings Inc. filed for Chapter 11 protection in U.S. Bankruptcy Court in Southern District of New York.


A Failure to Pay Credit Event occurred with respect to Syncora Guarantee Inc. (fka XL Capital Assurance Inc.) on or around April 30, 2009 under the Qualifying Policy issued by it for the Class A Certificates of SunTrust Acquisition Closed-End Seconds Trust, Series 2007-1 ("STACS 2007-1").







Company Announcement

Claris Limited

(the "Issuer")

22 Grenville Street

St. Helier

Jersey JE4 8PX


Series 85/2006 Tranche 1 USD 70,000,000 Algebra Floating Rate Credit Linked Notes due 2016 (ISIN: XS0271354986), (the "Notes")



Date: 16 October 2009.


Notice of Credit Event and Final Valuation Notice


We refer to the Swap Agreement between the Issuer and Société Générale (the "Protection Buyer") entered into in relation to the Notes, as evidenced by the confirmation in respect of the Notes. 

Notice is hereby given that the Issuer has received a Credit Event Notice and a Notice of Publicly Available Information (the "Notices") from the Protection Buyer in relation to certain Reference Entities as set out in the table below and more particularly described in the schedule hereto.

Following the receipt of such Notices on the Event Determination Date, Final Prices and Cash Settlement Amounts were determined in accordance with the terms and conditions of the Swap Agreement, and are set out in the table below.


Notes 

Reference Entity

CDO Reference Obligation/ Mezzanine Reference Obligation

Date of Notice 

Valuation Date

Final Price

(% of Ref. Entity Notional Price)

Loss Amount

Cash Settlement Amount

Claris series 85/2006

 

Kaupþing Banki hf

None

03/11/08

15/01/09

6.63

36,310,555.56

0

Lehman Brothers Holdings Inc

None

08/10/08

20/10/08

8.625

35,534,722.22

0


Capitalised terms used but not defined in this notice shall, as the context requires have the meanings given to them in the offering circular supplement relating to the Notes.

For further information please contact:

Claris Limited

22 Grenville Street

St. Helier

Jersey JE4 8PX



Schedule

Credit Event Notice and Notice of Publicly Available Information


A Bankruptcy Credit Event occurred with respect to Kaupþing Banki hf on or around October 9, 2008, as a result of the appointment of a winding-up committee by the Icelandic Financial Supervisory Authority and various associated events.

A Bankruptcy Credit Event occurred with respect to Lehman Brothers Holdings Inc. on or around September 15, 2008, when the Lehman Brothers Holdings Inc. filed for Chapter 11 protection in U.S. Bankruptcy Court in Southern District of New York.







Company Announcement

Claris Limited

(the "Issuer")

22 Grenville Street

St. Helier

Jersey JE4 8PX



Series 70/2006 Tranche 1 EUR 42,000,000 Voltaire 2006 Floating Rate Credit Linked Notes due 2016 (ISIN: XS0256230706), (the "Notes")


Date: 16 October 2009.


Notice of Credit Event and Final Valuation Notice

We refer to the Swap Agreement between the Issuer and Société Générale (the "Protection Buyer") entered into in relation to the Notes, as evidenced by the confirmation in respect of the Notes. 

Notice is hereby given that the Issuer has received a Credit Event Notice and a Notice of Publicly Available Information (the "Notices") from the Protection Buyer in relation to certain Reference Entities as set out in the table below and more particularly described in the schedule hereto.

Following the receipt of such Notices on the Event Determination Date, Final Prices and Cash Settlement Amounts were determined in accordance with the terms and conditions of the Swap Agreement, and are set out in the table below.

Notes 

Reference Entity

CDO Reference Obligation/ Mezzanine Reference Obligation

Date of Notice 

Valuation Date

Final Price

(% of Ref. Entity Notional Price)

Loss Amount

Cash Settlement Amount

Claris series 70/2006

Glitnir Banki hf

None

13/05/09

29/07/09

16

42,000,000

0.00

Kaupþing Banki hf

None

16/03/09

04/06/09

8.5

45,750,000

0.00

Landsbanki Íslands hf

None

11/05/09

28/07/09

0

50,000,000

0.00

Lehman Brothers Holdings Inc

None

13/01/09

30/03/09

12.75

43,625,000

0.00

Tribune Company

None

11/06/09

25/08/09

5

47,500,000

0.00


Capitalised terms used but not defined in this notice shall, as the context requires have the meanings given to them in the offering circular supplement relating to the Notes.

For further information please contact:


Claris Limited

22 Grenville Street

St. Helier

Jersey JE4 8PX

Schedule

Credit Event Notice and Notice of Publicly Available Information


A Bankruptcy Credit Event occurred with respect to Glitnir Banki hf on or around October 7, 2008, when a receivership committee was appointed with respect to the Glitnir Banki hf.


A Bankruptcy Credit Event occurred with respect to Kaupþing Banki hf on or around October 9, 2008, as a result of the appointment of a winding-up committee by the Icelandic Financial Supervisory Authority and various associated events.


A Bankruptcy Credit Event occurred with respect to Landsbanki Íslands hf on or around October 7, 2008, when a receivership committee was appointed with respect to the Landsbanki Íslands hf.


A Bankruptcy Credit Event occurred with respect to Lehman Brothers Holdings Inc. on or around September 15, 2008, when the Lehman Brothers Holdings Inc. filed for Chapter 11 protection in U.S. Bankruptcy Court in Southern District of New York.


A Bankruptcy Credit Event occurred with respect to Tribune Company on December 9, 2008, when the Tribune Company announced that it is voluntarily restructuring its debt obligations under the protection of Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.










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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