23rd Oct 2008 16:53
Company Announcement
CLOVERIE PLC
(the "Issuer")
1 North Wall Quay
International Financial Services Centre
Dublin 1
Ireland
23 October 2008
Notice of: Cloverie PLC Series No: 2007-25 USD 20,000,000 Floating Rate Derby Mezzanine 2007 Portfolio Credit Linked Notes due 2017 (the "Notes") (ISIN: XS0291349529)
The Issuer wishes to announce an amendment to the terms and conditions of the Notes (the "Conditions").
We refer to the Notes above constituted by a principal trust deed between, inter alios, the Issuer and the Trustee dated as of 10 July 2006 (the "Principal Trust Deed") as supplemented by a supplemental trust deed dated 9 March 2007 (the "Supplemental Trust Deed" and together with the Principal Trust Deed, the "Trust Deed").
We hereby notify you that, the Issuer, with the agreement of the Trustee, acting with the consent of the Noteholder holding 100 per cent. of the principal amount of the Notes for the time being outstanding, and the Swap Counterparty, has amended the Conditions on 14 October 2008, as set out below.
For purposes of the Conditions,
(I) the "Class Threshold Percentage", has been amended to mean "(i) on the Issue Date, 7.35 and (ii) on the Adjustment Effective Date, 10.247, and in each case thereafter as such amount may be adjusted in accordance with the provisions of the Portfolio Management Agreement" and
(II) the "Adjustment Effective Date" has been deemed to mean "29 September 2008".
For further information please contact:
A&L Goodbody, Solicitors
International Financial Services Centre
North Wall Quay
Dublin 1
Ireland
Tel +353 1 649 2000
This announcement has been issued through the Companies Announcement Service of
The Irish Stock Exchange
Related Shares:
Cloverie 40