Company name Magnolia Finance II
Headline Notice of Floating Amount (Interest Shortfall)


RNS Number : 7173J
Magnolia Finance II plc
09 August 2012
 



COMPANY ANNOUNCEMENT

 

 

 

9 August 2012

 

 

Magnolia Finance II plc (the "Issuer")

 

 

Re: Notice of Floating Amount (Interest Shortfall)

 

Series 2007-5 USD 18,000,000 CMBS Portfolio Variable Rate Notes due October 2045 (the "Notes")

                                                                                         

We hereby notify you that, on 06 August 2012, Credit Suisse, Cayman Islands Branch ("CS") delivered to the Issuer in respect of the Notes, a notice of Floating Amount (Interest Shortfall) dated 06 August 2012 (the "Notice") in respect of Reference Obligations BACM 2005-6 K, BSCMS 2006-PW13 H, JPMCC 2006-LDP9 H, BACM 2007-2 J, JPMCC 2006-LDP6 G, GCCFC 2007-GG9 J, CSMC 2006-C4 K, MLCFC 2007-5 H, GSMS 2006-GG8 K, CSMC 2006-C5 J, GCCFC 2006-GG7 J, GCCFC 2005-GG5 G, WBCMT 2006-C29 J, BACM 2006-1 J, CGCMT 2006-C4 H, BSCMS 2005-PWR9 J, GMACC 2006-C1 J, WBCMT 2006-C26 G, COMM 2005-C6 H, LBUBS 2005-C1 J, MSC 2006-HQ10 H, MSC 2006-HQ8 K, CSMC 2006-C3 H, BSCMS 2006-T24 H, JPMCC 2007-CB18 H, BSCMS 2006-PW14 H, GCCFC 2005-GG3 H, CSFB 2005-C6 J, MSC 2007-HQ11 J, BSCMS 2006-PW12 G, JPMCC 2006-LDP8 H, WBCMT 2005-C18 H, MSC 2006-HQ9 K and CSMC 2006-C2 G and identified by CUSIP 05947U4R6, 07388LAS9, 46630AAN8, 059511BA2, 46625YR21, 20173QAS0, 22545MAR8, 55312YAV4, 362332AZ1, 22545LAZ2, 20173MAR1, 396789LV9, 92978PAT6, 05947U6L7, 17309DAQ6, 07387BAW3, 361849S52, 92976UAE0, 126171AT4, 52108HZ80, 61750HAR7, 617451FZ7, 22545DAP2, 07388NAP1, 07388PAS0, 46629YAT6, 396789KF5, 225470NZ2, 61751NAS1 07387JAU0 46629MAW5, 929766T37, 61750CAV9 and 22545BAM3 (each a "Reference Obligation" and together, the "Reference Obligations") in accordance with the Credit Swap Transaction dated 27 July 2007 between CS and the Issuer.  Terms not otherwise defined herein shall have the meanings given to them in the Constituting Instrument dated 27 July 2007 in relation to the Notes.     

 

In the Notice, CS has notified the Issuer that a Floating Amount Event has occurred as of the date of the Notice by reason of an Interest Shortfall with respect to the Reference Obligations (as set forth in Exhibit A to the Notice).  As a result, the Floating Amount in respect of such Floating Amount Event is equal to the amount set forth next to the term "Interest Shortfall Amount" in Exhibit A to the Notice and 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 Exhibit A to the Notice.  Furthermore, the Floating Amount was determined on the basis of a trustee report for the relevant Transaction also 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:

 

 

 

Matheson Ormsby Prentice

Richard Kelly

Phone: +353 1 232 2140

 

 

 

 

 

 

 

 

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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