Source - RNS
RNS Number : 5539L
Leopard CLO II BV
03 October 2016
 

THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF NOTEHOLDERS. IF NOTEHOLDERS ARE IN ANY DOUBT AS TO THE POTENTIAL CONSEQUENCES, THEY SHOULD CONSULT THEIR OWN INDEPENDENT PROFESSIONAL ADVISERS AUTHORISED UNDER THE FINANCIAL SERVICES AND MARKETS ACT 2000 IMMEDIATELY

 

Notice to Holders of Notes (the "Notice")

 

LEOPARD CLO II B.V.

(a private company with limited liability incorporated under the laws of The Netherlands having its registered office at Luna ArenA, Herikerbergweg 238, 1101 CM Amsterdam, The Netherlands)

 

(the "Issuer")

 

€15,000,000 Class C Senior Secured Deferrable Floating Rate Notes due 2019

ISIN: XS0188618101

€8,250,000 Class D Senior Secured Deferrable Floating Rate Notes due 2019

ISIN: XS0188618523

€39,550,000 Class E Subordinated Notes due 2019

ISIN: XS0188619091

 

(together the "Notes")

Capitalised terms used but not defined in this Notice shall have the meanings given to them in the trust deed dated 7 April 2004 between, inter alios, the Issuer and BNY Mellon Corporate Trustee Services Limited as Trustee (originally J.P. Morgan Corporate Trustee Services Limited).

The Issuer hereby notifies holders of the Notes that all Portfolio assets have been repaid or sold and, accordingly, it is the intention of the Issuer to apply the proceeds of such repayments and/or sales (to the extent settlement of such sales has occurred) (the "Proceeds") in accordance with the Priorities of Payment in redemption of the outstanding Notes on the next Payment Date, being 7 October 2016 (the "October Payment Date"), in accordance with Condition 7(e)(iii) (Redemption following Expiry of the Reinvestment Period).

The Issuer notes, however, that certain amounts to which it is entitled in respect of the Portfolio assets recently sold (the "Outstanding Amounts") may not be received prior to the October Payment Date and are expected to be settled after such date. The Issuer, therefore, does not expect to receive all final Outstanding Amounts due to it until December 2016.

The Issuer notes that it has determined to retain the sum of €100,000 (the "Retained Amount") to pay the anticipated liquidation expenses of the Issuer and other costs involved with the winding-up of the transaction.

Following receipt of the Outstanding Amounts and settlement of any final liquidation costs of the Issuer, and prior to the actual liquidation of the Issuer, the Issuer intends to make a final payment (the "Final Payment") of the Outstanding Amounts and the surplus remaining from the Retained Amount (if any) in accordance with Condition 3(c) (Priorities of Payment) on such date as may be agreed with the Trustee.

The Issuer notes that, following the Final Payment, it will have no Portfolio assets and no cash in any of the Accounts and, accordingly, the Transaction Creditors shall not be entitled to any further amounts from the Issuer pursuant to Condition 4(c) (Limited Recourse). The Issuer anticipates that there will be sufficient proceeds to redeem the Class C Notes in full either on the October Payment Date or upon distribution of the Final Payment. The Issuer also anticipates, however, that there will be insufficient proceeds to fully redeem any other outstanding Notes whether on the October Payment Date or upon distribution of the Final Payment and, accordingly, any outstanding Notes shall be cancelled following the Final Payment.

This Notice shall be governed by, and construed in accordance with, the laws of England and Wales.

Holders of the Notes with queries in relation to the above are encouraged to contact the Issuer, the Portfolio Manager or the Trustee at the contact details appended to this Notice.

 

LEOPARD CLO II B.V.
3 October 2016

 



 

Contact Details:

To the Issuer:

LEOPARD CLO II B.V.

 

Address:

Registered Office:

Luna ArenA

Herikerbergweg 238

1101 CM Amsterdam

The Netherlands

 


Attention:


The Directors

 

Fax:

+31 20 6730016

To the Portfolio Manager:

M&G Investment Management Limited

 

Address:

Laurence Pountney Hill

London EC4R OHH

 

 


Attention:

 

Mike Nicholson / Christine Ko

 

Email:

[email protected] / [email protected]

To the Trustee:

BNY Mellon Corporate Trustee Services Limited

 

Address:

One Canada Square
London E14 5AL

 


Attention:


Trustee Administration Manager

 

Email:

CTDublinCDOM&[email protected]

 

 

 

 

This announcement has been issued through the Companies Announcement Service of

the Irish Stock Exchange.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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