REG - Magnolia Finance II - Notice to Noteholders

VistraAnnouncement

03/07/2020 14:15

RNS Number : 0212S
  
Magnolia Finance II plc
  
03 July 2020
  
 

 



 
COMPANY ANNOUNCEMENT


















2 July 2020 














Magnolia Finance II plc (the "Issuer")
















Re: Notice of Floating Amount (Writedown)



 
Series 2006-6A2E EUR 7,500,000 ABS Portfolio Variable Rate Notes due December 2038
Series 2006-6A2G GBP 6,000,000 ABS Portfolio Variable Rate Notes due December 2038
Series 2006-6B USD 126,500,000 ABS Portfolio Variable Rate Notes due December 2038
 
(together, the "Notes") 
 
We hereby notify you that, on 30 June 2020, Credit Suisse AG, Cayman Islands Branch ("CS") has delivered to the Issuer in respect of the Notes, a notice of Floating Amount (Writedown) dated 30 June 2020 (the "Notice") relating to Reference Entities ACE 2005-HE7 M2, HEMT 2005-4 M2, SABR 2005-HE1 M1, SAIL 2005-8 M2 and SAIL 2005-9 M2 and the Reference Obligations identified by CUSIP 004421UD3, 2254584E5, 81375WGF7, 86358EXR2 and 86358EYG5 (each, a "Reference Obligation" and together, the "Reference Obligations") in accordance with the Credit Swap Transactions between CS and the Issuer in relation to the Notes. Terms not otherwise defined herein shall have the meanings given to them in the Constituting Instruments in relation to the Notes (the "Constituting Instrument").      
 
In the Notice, CS has notified the Issuer that a Writedown has occurred under clause (i) of the definition thereof with respect to the relevant Reference Obligation as of the date of the Notice. The Floating Amount in respect of such Floating Amount Event is equal to the amount set forth next to "Floating Amount Due" in Annex A to the Notice, which 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 Annex A to the Notice. Furthermore, the Floating Amount was determined on the basis of a trustee report for the relevant Transaction 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:


















Vistra Alternative Investments (Ireland) Limited


Phone: +353 (0)1 963 1030








 
This announcement has been issued through the Companies Announcement Service of
Euronext Dublin.
 
 
 
 
 
 


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