For immediate release
Channel Capital PLC
5 Harbourmaster Place
International Financial Services Centre
Issuer Name: Channel Capital PLC
Description of Notes:
US$ 50,000,000 Junior Capital Floating Rate Notes due July 2057 (the "Junior Capital Notes");
US$ 2,510,000 Senior Participation Notes due July 2057 (the "Senior Participation Notes"); and
US$ 500,000 Junior Participation Notes due July 2057 (the "Junior Participation Notes"),
(the Junior Capital Notes, the Senior Participation Notes and the Junior Participation Notes are collectively referred to as the "Notes").
Announcement of Variable Payment:
In accordance with Condition 7 of the Notes, the Issuer hereby wishes to announce that it has today determined an amount of Earned Participation available for distribution as Excess Spread in the amount of USD 8,000,000, which shall be payable to the holders of each class of the Notes (as shown in the Register at the opening of business on the Record Date) as a Variable Payment as follows:
Junior Notes: USD 4,000,000 in aggregate
Senior Participation Notes: USD 2,400,000 in aggregate
Junior Participation Notes: USD 1,600,000 in aggregate
Total: USD 8,000,000
The Issuer has determined the Variable Payment Date shall be 13 July 2012.
This announcement is effective from 28 June 2012.
For further information please contact Channel Capital Advisors LLP in its capacity as investment manager of the Issuer:
Deborah Hutchinson - Chief Operating Officer
Deborah.Hutchinson@channelcapital.co.uk + (44) (0) 207 291 5171
Robert Dodge - Operations Director
Rob.Dodge@channelcapital.co.uk + (44) (0) 207 291 5167
This announcement has been issued through the Companies Announcement Service of
the Irish Stock Exchange.