Company name Claris Limited
Headline Notice


RNS Number : 2964K
Claris Limited
17 August 2012
 



Company Announcement

Claris Limited

(incorporated as a limited company in Jersey)

22 Grenville Street

St. Helier

Jersey JE4 8PX

(the "Issuer")

 

Claris Limited

Specified Series

ISIN

1. Claris Series 72/2006

XS0263089681.

2. Claris Series 73/2006

US18060PAA12

3. Claris Series 74/2006

XS0265135375

4. Claris Series 75/2006

US18060PAB94

5. Claris Series 80/2006

US18060PAD50

6. Claris Series 82/2006

XS0275320637

7. Claris Series 83/2006

XS0276817516.

8. Claris Series 85/2006

XS0271354986

9. Claris Series 86/2006

US18060PAE34.

10. Claris Series 88/2007

XS0286337851.

11. Claris Series 89/2007

XS0286337778

12. Claris Series 92/2007

US18060PAF09

13. Claris Series 93/2007

US18060PAG81

14. Claris Series 94/2007

US18060PAH64

15. Claris Series 95/2007

XS0289444548

16. Claris Series 96/2007

XS0291364916

17. Claris Series 97/2007

XS0291519204

18. Claris Series 104/2007

XS0300691531

19. Claris Series 105/2007

US18060PAJ21

20. Claris Series 106/2007

US18060PAK93

21. Claris Series 114/2007

US18060PAL76

22. Claris Series 115/2007

US18060PAM59

 

 

17 August 2012

 

Re: Claris Limited

New accounts in relation to the Specified Series (as set out above) issued by Claris Limited pursuant to the EUR 20,000,000,000 Secured Transaction Programme of Claris Limited, Claris 2 Limited, Claris III Limited, Claris IV Limited, Iris SPV plc and Iris II SPV Limited

On 21 June 2012, Moody's Investors Service, Ltd. announced credit rating downgrades in respect of Societe Generale and BNP Paribas Securities Services (BNPP). Following such credit downgrade, the Issuer was required to (i) appoint a substitute account bank in respect of each Specified Series for which a cash account was already in existence and (ii) open new cash accounts to facilitate the posting of cash collateral by the swap counterparties (each, a "Swap Counterparty") pursuant to the terms of the applicable swap agreements in respect of certain Specified Series, (iii) appoint a substitute deposit bank in respect of each Specified Series and (iv) appoint a substitute suspense account bank in respect of the Claris Series 82/2006 and Claris Series 85/2006 Specified Series only.

The Issuer wishes to announce that (i) it has opened new cash accounts with HSBC Bank PLC ("HSBC") to facilitate the posting of cash collateral by the Swap Counterparty pursuant to the terms of the applicable swap agreements in respect of the Specified Series, (ii) it has entered into a Global Deposit Agreement (as defined below) in respect of the Specified Series whereby HSBC has been appointed as the deposit bank and (iii) it has entered into a Global Suspense Account Agreement (as defined below) in respect of the Claris Series 82/2006 and Claris Series 85/2006 Specified Series only, whereby HSBC has been appointed as the suspense account bank.

With effect from and including the 14 August 2012 the Issuer has:

(a)        entered into a global deposit agreement for each Specified Series between the Issuer and Societe Generale and HSBC (the "Global Deposit Agreement");

(b)        in respect of the Specified Series Claris Series 82 and Claris Series 85 only, entered into a global suspense account agreement between the Issuer, Societe Generale and HSBC (the "Global Suspense Account Agreement");

(c)        entered into a global bank account agreement for each Specified Series between, among others, the Issuer and HSBC; and

(d)        entered into a global third supplemental trust deed for each Specified Series between, among others the Issuer and HSBC Trustee (C.I.) Limited.

 

For further information please contact:

The Issuer

Claris Limited

Attention: Company Secretary

Tel. No.: +44 1534 609 000

 

 

 

 

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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