RIS Notification

 

 

To:          The Irish Stock Exchange

               28 Anglesea Street

               Dublin 2

               Ireland

 

Attention: Regulatory Information Services

 

                                        30 July 2010

 

Talisman-6 Finance p.l.c. (the "Issuer")

Class A Commercial Mortgage Backed Floating Rate Notes due 2016

Class X Commercial Mortgage Backed Floating Rate Notes due 2016

Class B Commercial Mortgage Backed Floating Rate Notes due 2016

Class C Commercial Mortgage Backed Floating Rate Notes due 2016

Class D Commercial Mortgage Backed Floating Rate Notes due 2016

Class E Commercial Mortgage Backed Floating Rate Notes due 2016

Class F Commercial Mortgage Backed Floating Rate Notes due 2016

(together, the "Notes")

 

The Notes are admitted to the official list of the Irish Stock Exchange and to trading on its regulated market.

 

Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation together with Implementing Directive 2003/12/EC (as implemented in Ireland by the Market Abuse (Directive 2003/6/EC) Regulations 2005) requires disclosure of inside information relating to the Issuer.

 

Terms used and not otherwise defined herein have the meaning ascribed to them in the Prospectus in relation to the Notes dated 2 April 2007.

 

We refer to the Kiwi Loan. The Issuer hereby gives notice that Servicing Transfer Events have occurred, under paragraph (f) of such definition, in relation to the Kiwi Loan due to the following:

1.   The Kiwi Borrower has failed to pay the full amount of scheduled principal that was due on the Due Date of 15 July 2010. Such principal shortfall remains outstanding; and 

 

2.   Under the Kiwi Credit Agreement, the Kiwi Borrower must ensure that the Loan to Value (as defined in the Kiwi Credit Agreement) does not, on each Testing Date (as defined in the Kiwi Credit Agreement), at any time, exceed 80%. The Kiwi Borrower is also in breach of its loan to value covenant as the current Loan to Value is 91.1%.  

Such breaches of the Kiwi Credit Agreement constitute Loan Events of Default.

The Servicer believes that the failure by the Kiwi Borrower to cure such Loan Events of Default will have a material adverse effect on the Kiwi Borrower's ability to perform its obligations under the relevant Finance Documents.

The Kiwi Loan will now become a Specially Serviced Loan and Hatfield Philips International Limited (as Special Servicer) will assume special servicing responsibilities in respect of the Kiwi Loan.

 

For queries relating to the above please contact: reporting@hatfieldphilips.com.

 

For and on behalf of Talisman-6 Finance p.l.c.

 

 

Signature:                                                                           Date:

 

Name:

 

 

This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange.