REG - WisdomTree Comm Secs - Changes to Funding Rate and Default Rate

Intercontinental ExchangeAnnouncement

30/05/2022 16:30

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RNS Number : 2847N  WisdomTree Commodity Securities Ltd  30 May 2022

WisdomTree Commodity Securities Limited

LEI: 21380068Q1JSIAN4FO63

30 May 2022

WISDOMTREE COMMODITY SECURITIES LIMITED

Classic and Longer Dated Commodity Securities

Changes to Funding Rate and Default Rate

WisdomTree Commodity Securities Limited (the "Issuer") herby gives notice that
it has agreed with the Commodity Contract Counterparties and the Trustee
changes to the definitions of "Funding Rate" and "Default Rate" (as used in
the Conditions and the Facility Agreements).

As described under the heading "Commodity Contracts and Facility Agreements"
in Part 1 (General) of the Prospectus, the "Funding Rate" and "Default Rate"
(as used in the Conditions and the Facility Agreements) refer to a rate of
interest calculated by reference to LIBOR. ICE Benchmark Administration has
announced that it intends to cease providing LIBOR settings for all currencies
and the Issuer noted in the Prospectus that it was in discussions with the
Commodity Contract Counterparties and the Trustee with a view to amending the
definitions of Funding Rate and Default Rate in the Conditions and the
Facility Agreements to make alternative provision.  The Issuer stated that it
would announce the terms of the amendments made to the Conditions and Facility
Agreements through an RIS in due course.

The Issuer has now agreed with the Commodity Contract Counterparties and the
Trustee that a rate equal to the Secured Overnight Financing Rate administered
by the Federal Reserve Bank of New York plus a margin of 0.11448 per cent.
will be used in place of LIBOR. Such changes will take effect from 30 May 2022
(the "Effective Date").

Accordingly the Issuer and the Trustee have entered into a 25th supplemental
trust instrument under which, with effect from the Effective Date,
Condition 1.1 of the Conditions will be amended by:

·    inserting a new definition of "Adjusted SOFR" as follows:

"Adjusted SOFR means a rate per annum of interest equal to SOFR plus 0.11448
per cent.;";

·    amending the definitions of "Default Rate" and "Funding Rate" by
deleting "LIBOR" in each place it occurs and substituting "Adjusted SOFR";

·    deleting the definition of "LIBOR"; and

·    inserting a new definition of "SOFR" as follows:

"SOFR means, in respect of any date of determination, the Secured Overnight
Financing Rate administered by the Federal Reserve Bank of New York (or any
successor administrator) and appearing on Bloomberg page SOFRRATE or any
substituted publication and/or page therefor in respect of that day or the
immediately preceding day for which it had a value, or, if not available,
ascertained from any other source as the Issuer and a Commodity Contract
Counterparty may agree for the purposes of its Facility Agreement;".

The Issuer has, with the consent of the Trustee, agreed equivalent changes
with each Commodity Contract Counterparty to its Facility Agreement.

Terms used in this announcement and not otherwise defined bear the meanings
given in the base prospectus (the "Prospectus") of the Issuer relating to
Classic and Longer Dated Commodity Securities dated 13 August 2021.

For further information, please contact:

WisdomTree

infoeu@wisdomtree.com

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