Source - RNS
RNS Number : 0009L
Bluegrass ABS CDO II Ltd
27 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 April 14, 2004 (the "Indenture") among Bluegrass ABS CDO II Ltd., as Issuer (the "Issuer"), Bluegrass ABS CDO II Corp., as Co-Issuer (the "Co-Issuer," and together with the Issuer, the "Co-Issuers"), and Wells Fargo Bank, N.A., as Trustee (the "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 Pursuant to Section 9.01B of the Indenture


            Notice is hereby given that an Auction was conducted in accordance with Section 9.01B and Annex H of the Indenture on September 27, 2016 (the "September 2016 Auction Date").  The Trustee was unable to sell the Underlying Assets on the June 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 Investment and Cash in the Hedge Counterparty Collateral Account), at least equal to the Redemption Amount. Consequently, an Auction Call Redemption will NOT occur on the October, 2016 Payment Date. You are further notified that pursuant to Section 9.01B of the Indenture, the Trustee shall conduct an Auction prior to each subsequent Payment Date if the Notes are not redeemed in full prior to the next succeeding Auction Date.


            You may direct questions and requests to the attention of Karen Taylor by telephone at (410) 884-2149, by e-mail at [email protected], by facsimile at (866) 379-7726, or by mail addressed to Wells Fargo Bank, National Association, Corporate Trust Department, Attn.: Karen Taylor, 9062 Old Annapolis Rd Columbia, MD 21045.  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 of Notes 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: September 27, 2016                 

as Trustee

Schedule A


Holders of Notes:* 09622WAL2, 09622WAM0, 09622WAA6, 09622WAB4, 09622WAC2, 09622WAD0, G1192FAC9



Bluegrass ABS CDO II Ltd.

c/o Directors of the Issuer

P.O. Box 1984

GT Elizabethan Square

George Town, Grand Cayman

Cayman Islands, British West Indies



Bluegrass ABS CDO II Corp.

c/o Directors of the Co-Issuer

1209 Orange Street

Wilmington, Delaware 19801


Collateral Manager:

INVESCO Institutional (N.A.), Inc.

1166 Avenue of the Americas

New York, New York 10036

Attention: Patrick Gallaway


Rating Agencies:

Moody's Investors Service

7 World Trade Center

250 Greenwich Street

New York, New York 10007

Attention: Collateralized Loan Obligation Monitoring, Structured Finance Group

[email protected]


Standard & Poor's

55 Water Street, 41st Floor

New York, New York 10041-0003

Attention: Collateralized Loan Obligation Monitoring, Structured Finance Group

[email protected]


Fitch, Inc.

One State Street Plaza

New York, New York 10004

Attention: Credit Products Group-Surveillance

[email protected]


Swap Counterparty and Put Counterparty:

50 Danbury Road

Wilton, CT 06897

Attention: Chief Financial Officer


Remarketing Agent:

Deutsche Bank Securities Inc.

60 Wall Street

New York, New York 10005

Attention: John Bulger - Securitized Products Group


Irish Stock Exchange:

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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