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Magnolia Finance II (IRSH)

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Tuesday 03 February, 2015

Magnolia Finance II

Notice to Noteholders

RNS Number : 8898D
Magnolia Finance II plc
03 February 2015
 

30 January 2015

COMPANY ANNOUNCEMENT




30 January 2015



Magnolia Finance II plc (the "Issuer")



Re: Notice of Floating Amount (Writedown)

 

Series 2005-6B Dallaglio 5 CMBS Portfolio Credit Linked Notes due March 2039 (the "Notes")

                                                                                         

We hereby notify you that, on 29 January 2015, Credit Suisse, Cayman Islands Branch ("CS") has delivered to the Issuer in respect of the Notes, a notice of Floating Amount (Writedown) dated 29 January 2015 (the "Notice") relating to Reference Entity CSFB 2005-C2 AJ and the Reference Obligation identified by CUSIP 225458RX8 (the "Reference Obligation") in accordance with the relevant Credit Swap Transaction between CS and the Issuer in relation to the Notes. Terms not otherwise defined herein shall have the meanings given to them in the Constituting Instrument in relation to the Notes.     

 

In the Notice, CS has notified the Issuer that a Writedown has occurred under clause (i) of the definition thereof with respect to the relevant Reference Obligation as of the date of the Notice. The Floating Amount in respect of such Floating Amount Event is equal to the amount set forth next to "Floating Amount Due" in Annex A to the Notice, which will be due to CS under the relevant Transaction.

 

In addition, according to the Notice, CS's calculations in respect of the Floating Amount for the relevant Transaction are attached as Annex A to the Notice. Furthermore, the Floating Amount was determined on the basis of a trustee report for the relevant Transaction attached as Exhibit A to the Notice.

 

Copies of the Notice will be available for physical inspection and collection free of charge during usual business hours on any weekday (Saturdays, Sundays and public holidays excepted) at the specified office of the Issuer, the Principal Paying Agent in London and the specified office of the Irish Paying Agent for so long as any of the Notes shall remain outstanding (unless otherwise indicated).

 

Given by the Issuer.

 

Enquiries:




Deutsche International Corporate Services (Ireland) Limited

Phone: +353 1 680 6000

 

 

 

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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