Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Rait Preferred Fd II (IRSH)

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Monday 17 July, 2017

Rait Preferred Fd II

Notice of Upcoming Auction

RNS Number : 2785L
Rait Preferred Funding II Ltd
17 July 2017


Corporate Trust Services

9062 Old Annapolis Road

Columbia, MD 21045-1951

MAC: R1204-010







To:       The Parties listed on Schedule A hereto.

Reference is made to that certain Indenture dated as of June 7, 2007 (as amended, modified or supplemented, the "Indenture") among RAIT PREFERRED FUNDING II, LTD., as Issuer (the "Issuer"), RAIT PREFERRED FUNDING II, LLC, as Co-Issuer (the "Co Issuer," and together with the Issuer, the "Co-Issuers"), WELLS FARGO BANK, NATIONAL ASSOCIATION, as trustee (the "Trustee"), Paying Agent, Calculation Agent, Transfer Agent, Custodian, Backup Advancing Agent and Note Registrar and RAIT PARTNERSHIP, L.P., as advancing agent (the "Advancing Agent").  Capitalized terms used herein without definition shall have the meanings given to such terms in the Indenture.

            I.          Notice to Nominees and Custodians.


            If you act as or hold Notes or Preference Shares as a nominee or custodian for or on behalf of other persons, please transmit this notice immediately to the beneficial owner of such Notes or Preference Shares or such other representative who is authorized to take actions.  Your failure to act promptly in compliance with this paragraph may impair the chance of the beneficial owners on whose behalf you act to take any appropriate actions concerning the matters described in this notice.


            II.        Notice of Auction to be Conducted Pursuant to Section 9.7 of the Indenture.


            Notice is hereby given that an Auction will be conducted in accordance with Section 9.7 and Schedule D of the Indenture on or about August 11, 2017 (the "August 2017 Auction Date").  The Collateral Assets will be sold on the August 2017 Auction Date only if (i) the Highest Auction Price would result in a cash purchase price for the Collateral Assets which, together with the balance of all Eligible Investments and Cash in the Accounts (other than the Hedge Counterparty Collateral Account), will at least equal to the Total Senior Redemption Amount, (ii) the Trustee has received bids for each of the Collateral Assets from at least two Qualified Bidders identified to the Trustee by the Collateral Manager (including the winning Qualified Bidder), (iii) the winning bidder enters into a written agreement with the Issuer for the purchase of the Collateral Assets and (iv) all other requirements in the Indenture are satisfied.  Pursuant to Section 9.7(b) of the Indenture, the Collateral Manager, although it may not have been the highest bidder, will have the option to purchase the Collateral Assets (or any subpool) for a purchase price equal to the highest bid therefor.


            The Auction Solicitation Package, containing details of the Auction, can be obtained by contacting the Collateral Manager by phone at (212) 735-1495, by e-mail at [email protected], and by facsimile at (212) 735-1499 and [email protected], and by facsimile at (215) 391-4171.


            III.       Notice of Potential Auction Call Redemption.


             In accordance with Section 9.3 of the Indenture, the Issuer has provided notice (the "Issuer's Notice) to the Trustee of a potential Auction Call Redemption.  A copy of the Issuer's Notice is attached hereto as Exhibit A.


             In accordance with Section 9.7 of the Indenture and subject to the satisfaction of the conditions to the consummation of the Auction, the Trustee hereby provides notice of the following information relating to the potential Auction Call Redemption:


            The Auction Call Redemption Date will be August 25, 2017.

            The Record Date will be August 10, 2017.

            The Redemption Price for the Notes will equal the sum of the Aggregate Outstanding Amount of the Notes being redeemed plus accrued interest thereon (including Defaulted Interest and accrued, unpaid and uncapitalized interest on Defaulted Interest, if any).

            The principal amount of each Class of Notes to be redeemed is the Aggregate Outstanding Amount.

            In the event that all conditions to the consummation of the Auction are satisfied, the Trustee will provide an additional notice specifying the place where the Notes and Preference Shares may be surrendered for payment of the Redemption Price.  


            You may direct questions to the attention of Stephen Moore by telephone at (410) 884-2040, by e-mail at [email protected], or by mail addressed to Wells Fargo Bank, National Association, Corporate Trust Department, Attn: Stephen Moore, MAC: R1204-010, 9062 Old Annapolis Road, Columbia, MD 21045-1951.  The Trustee may conclude that a specific response to particular inquiries from individual Holders is not consistent with equal and full dissemination of material information to all Holders.  Holders of Notes or Preference Shares should not rely on the Trustee as their sole source of information. The Trustee makes no recommendations and gives no investment advice herein or as to the Notes or Preference Shares generally.


Dated: July 14, 2017                           

WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee and Preference Share Paying Agent

Schedule A

Holders of Notes and Preference Shares:*














RAIT Preferred Funding II, Ltd.

c/o Walkers SPV Limited

Walker House

87 Mary Street, George Town

Grand Cayman KY1-9002

Cayman Islands

Attention: The Directors



RAIT Preferred Funding II, LLC

c/o Andrew M. Lubin

110 South Poplar Street, Suite 101

Wilmington, Delaware 19801

Attn: Andrew M. Lubin


Collateral Manager:

RAIT Partnership, L.P.

Two Logan Square

100 N. 18th Street, 23rd Floor

Philadelphia, Pennsylvania 19103

Irish Stock Exchange:

Irish Stock Exchange Limited

Company Announcements Office

28 Anglesea Street

Dublin 2, Ireland


Irish Paying Agent:

Custom House Administration and Corporate Services Limited

25 Eden Quay

Dublin 1 Ireland


Rating Agencies:

S&P Global Ratings

55 Water Street, 41st Floor

New York, New York 10041-0003

Attn:  CDO Surveillance

[email protected]


Moody's Investors Service

7 World Trade Center

250 Greenwich Street

New York, New York 10007

Attn: CMBS Surveillance

[email protected]


Exhibit A

Issuer's Notice




This announcement has been issued through the Companies Announcement Service of

the Irish Stock Exchange.


*  The Trustee shall not be responsible for the use of the CUSIP, CINS, ISIN or Common Code numbers selected, nor is any representation made as to their correctness indicated in the notice or as printed on any Note. The numbers are included solely for the convenience of the Holders. 

This information is provided by RNS
The company news service from the London Stock Exchange

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