Source - RNS
RNS Number : 6595I
Acacia CDO 11 Ltd
01 September 2016


Corporate Trust Services

9062 Old Annapolis Road

Columbia, MD 21045-1951

MAC: R1204-010







To:       The Parties listed on Schedule A hereto.

Reference is made to that certain Indenture dated as of February 14, 2007 (the "Indenture") among Acacia CDO 11, Ltd., as Issuer, Acacia CDO 11, Inc., as Co-Issuer, and Wells Fargo Bank, National Association, as Trustee.  Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture.

            I.          Notice to Nominees and Custodians


            If you act as or hold Notes as a nominee or custodian for or on behalf of other persons, please transmit this notice immediately to the beneficial owner of such Notes or such other representative who is authorized to take actions.  Your failure to act promptly in compliance with this paragraph may impair the chance of the beneficial owners on whose behalf you act to take any appropriate actions concerning the matters described in this notice.


            II.        Notice of Results of Auction Conducted Pursuant to Section 9.5 of the Indenture


Notice is hereby given that an Auction was conducted in accordance with Section 9.5 and Schedule D of the Indenture on August 31, 2016 (the "August 2016 Auction Date").  The Trustee was unable to sell the Collateral Debt Securities on the August 2016 Auction Date because it did not receive bids that would result in Sale Proceeds, together with the Balance of all Eligible Investments and Cash in the Accounts (other than Eligible Investments and Cash held in the Hedge Counterparty Collateral Account, any Synthetic Security Counterparty Account and any Synthetic Security Issuer Account) and taking into account the anticipated net proceeds to the Issuer or payments required to be made by the Issuer in respect of termination payments under the Synthetic Securities (if any), at least equal to the Auction Call Redemption Amount. Consequently, an Auction Call Redemption will NOT occur on the September 15, 2016 Distribution Date.


You are further notified that pursuant to Section 9.5 of the Indenture, the Trustee shall conduct an Auction prior to each subsequent Auction Date unless the Secured Notes are redeemed in full prior to the next succeeding Auction Date or the Trustee is notified by the Collateral Manager that, due to market conditions, an Auction on such Auction Date is unlikely to be successful.


            You may direct questions and requests to the attention of Lisa Ruther by telephone at 410-884-2210, by e-mail at [email protected], by facsimile at 866-359-9244, or by mail addressed to Wells Fargo Bank, National Association, Corporate Trust Department, Attn.: Lisa Ruther, MAC: R1204-010, 9062 Old Annapolis Road, Columbia, MD 21045-1951.


            The Trustee may conclude that a specific response to particular inquiries from individual Holders is not consistent with equal and full dissemination of material information to all Holders. Holders should not rely on the Trustee as their sole source of information. The Trustee makes no recommendations and gives no investment advice herein or as to the Notes generally.


Dated: August 31, 2016                                                                WELLS FARGO BANK, NATIONAL                                                                                                      ASSOCIATION, as Trustee and                                                                                                      Subordinated Note Issuing and Paying                                                                                                      Agent

Schedule A


Holders of Secured Notes or Subordinated Notes:* 00389WAA8, 00389WAB6, 00389WAC4, 00389WAD2, G0064TAA0, G0064TAD4, G0064TAE2, 00389TAA5



Acacia CDO 11, Ltd.

c/o Intertrust SPV (Cayman) Limited

190 Elgin Avenue

George Town

Grand Cayman KY1-9005

Cayman Islands

Attention: The Directors



Acacia CDO 11, Inc.

c/o Puglisi & Associates

850 Library Avenue, Suite 204

Newark, Delaware 19711

Attention: Donald Puglisi, Esq.


Rating Agencies:

Moody's Investors Service

7 World Trade Center

250 Greenwich Street

New York, New York 10007

Attn: CDO Monitoring

E-mail: [email protected]


Hedge Counterparty:

Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A.,

London Branch

Thames Court

One Queenhithe



Attention: Swap Settlements


With copies to:

Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A.,

New York Branch

245 Park Avenue

New York , NY 10167, USA

Attention: Swap Desk



Collateral Manager:

Redwood Asset Management, Inc.

One Belvedere Place, Suite 370

Mill Valley, California 94941

Attention: Acacia CDO 11, Ltd.


Irish Stock Exchange:

Company Announcement Office

The Irish Stock Exchange Limited

28 Anglesea Street

Dublin 2, Ireland







This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange



*  The Trustee shall not be responsible for the use of the CUSIP, CINS, ISIN or Common Code numbers selected, nor is any representation made as to their correctness indicated in the notice or as printed on any Note. The numbers are included solely for the convenience of the Holders. 

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