Source - RNS
RNS Number : 7464L
Mountain View Fndg CLO2006-1 Ld/Cp
05 October 2016
 

The Bank of New York Mellon Trust Company, National Association

 

MOUNTAIN VIEW FUNDING CLO 2006-1, LTD.

MOUNTAIN VIEW FUNDING CLO 2006-1, CORP.

 

NOTICE OF OPTIONAL REDEMPTION

 

NOTE:  THIS NOTICE CONTAINS IMPORTANT INFORMATION THAT IS OF INTEREST TO THE REGISTERED HOLDERS AND BENEFICIAL OWNERS OF THE SECURITIES. IF APPLICABLE, ALL DEPOSITORIES, CUSTODIANS, AND OTHER INTERMEDIARIES RECEIVING THIS NOTICE ARE REQUESTED TO EXPEDITE RE-TRANSMITTAL TO THE REGISTERED HOLDERS AND BENEFICIAL OWNERS OF THE SECURITIES IN A TIMELY MANNER. 

 

September 28, 2016

 

To:       The Holders of the Securities as follows:

Securities

CUSIP*

Rule 144A

ISIN*

Rule 144A

CUSIP*

Reg S

ISIN*

Reg S

Class A-1 Notes

624442AA7

US624442AA76

G6298CAA2

USG6298CAA20

Class A-2 Notes

624442AB5

US624442AB59

N/A

N/A

Class B-1 Notes

624442AC3

US624442AC33

G6298CAC8

USG6298CAC85

Class B-2 Notes

624442AD1

US624442AD16

G6298CAD6

USG6298CAD68

Class C-1 Notes

624442AE9

US624442AE98

G6298CAE4

USG6298CAE42

Class C-2 Notes

624442AF6

US624442AF63

G6298CAF1

USG6298CAF17

Class D Notes

624442AG4

US624442AG47

G6298CAG9

USG6298CAG99

Class E Notes

62444LAA5

US62444LAA52

G62986AA5

USG62986AA57

Preference Shares

N/A

N/A

G62986107

KY6629861074

 

 

Securities

CUSIP*

Certificated

ISIN*

Certificated

Preference Shares

62444LAB3

US62444L2060

 

 

To:       Those Additional Addressees Listed on Schedule I hereto

 

            Reference is hereby made to (i) that certain Indenture, dated as of May 23, 2006 (as amended, modified or supplemented from time to time, the "Indenture"), among Mountain View Funding CLO 2006-1, Ltd., as Issuer (the "Issuer"), Mountain View Funding CLO 2006-1, Corp., as Co-Issuer (the "Co-Issuer" and together with the Issuer, the "Co-Issuers"), The Bank of New York Mellon Trust Company, National Association (as successor in trust to JPMorgan Chase Bank, National Association) (the "Bank"), as Trustee (the "Trustee") and SunTrust Bank as Class A-2 Note Agent and (ii) that certain Preference Share Paying Agency Agreement, dated as of May 23, 2006 (as amended, modified or supplemented from time to time, the "Preference Share Paying Agency Agreement"), among the Issuer, the Bank as Preference Share Paying Agent (the "Preference Share Paying Agent") and MaplesFS Limited (as successor to Maples Finance Limited) as Share Registrar.  Capitalized terms not otherwise defined herein shall have the meanings ascribed to such terms in the Indenture or Preference Share Paying Agency Agreement.

            Pursuant to Section 9.1 of the Indenture and Section 6.1 of the Preference Share Paying Agency Agreement, the Preference Share Paying Agent (at the direction of a Majority of the Preference Shares) directed the Co-Issuers to redeem the Notes in whole.  The Issuer has provided notice to the Trustee of the Redemption Date, the Record Date and the applicable Redemption Price for each Class of Notes.

 

            In accordance with Section 9.3 of the Indenture, the Trustee hereby provides notice of the following information relating to the Optional Redemption:

 

            The Redemption Date shall be October 17, 2016.

            The Record Date shall be October 2, 2016.

            The Redemption Price of each Class of Notes being redeemed shall be:

for the Class A-1 Notes - U.S.$ 50,868,011.88 (the sum (without duplication) of: the Aggregate Outstanding Amount of the Class A-1 Notes as of the Redemption Date, plus accrued and unpaid interest thereon (including Defaulted Interest and interest on Defaulted Interest, if any) through the Redemption Date);

for the Class A-2 Notes - U.S.$ 6,671,562.20 (the sum (without duplication) of: the Aggregate Outstanding Amount of the Class A-2 Notes as of the Redemption Date, plus accrued and unpaid interest thereon (including Defaulted Interest and interest on Defaulted Interest, if any) through the Redemption Date);

for the Class B-1 Notes - U.S.$ 18,053,114.70 (the sum (without duplication) of: the Aggregate Outstanding Amount of the Class B-1 Notes as of the Redemption Date, plus accrued and unpaid interest thereon (including Defaulted Interest and interest on Defaulted Interest, if any) through the Redemption Date);

for the Class B-2 Notes - U.S.$ 8,120,520.00 (the sum (without duplication) of: the Aggregate Outstanding Amount of the Class B-2 Notes as of the Redemption Date, plus accrued and unpaid interest thereon (including Defaulted Interest and interest on Defaulted Interest, if any) through the Redemption Date);

for the Class C-1 Notes - U.S.$ 11,041,075.65 (the sum (without duplication) of: the Aggregate Outstanding Amount of the Class C-1 Notes (including Deferred Interest, if any) as of the Redemption Date, plus accrued and unpaid interest thereon (including Defaulted Interest and interest on Defaulted Interest, if any) through the Redemption Date);

for the Class C-2 Notes - U.S.$ 12,189,780.00 (the sum (without duplication) of: the Aggregate Outstanding Amount of the Class C-2 Notes (including Deferred Interest, if any) as of the Redemption Date, plus accrued and unpaid interest thereon (including Defaulted Interest and interest on Defaulted Interest, if any) through the Redemption Date);

for the Class D Notes - U.S.$ 19,623,732.59 (the sum (without duplication) of: the Aggregate Outstanding Amount of the Class D Notes (including Deferred Interest, if any) as of the Redemption Date, plus accrued and unpaid interest thereon (including Defaulted Interest and interest on Defaulted Interest, if any) through the Redemption Date); and

for the Class E Notes - U.S.$ 13,679,073.53 (the sum (without duplication) of: the Aggregate Outstanding Amount of the Class E Notes (including Deferred Interest, if any) as of the Redemption Date, plus accrued and unpaid interest thereon (including Defaulted Interest and interest on Defaulted Interest, if any) through the Redemption Date).

            All of the Notes of each Class are being paid in full, and interest on such Notes shall cease to accrue on the Redemption Date. The notice of redemption may be withdrawn upon the occurrence of certain conditions, as provided in the Indenture.  The last possible date upon which the notice of redemption may be withdrawn is October 11, 2016.

            The Collateral Manager has advised the Trustee that certain items of Underlying Assets may not be sold prior to the Redemption Date and that additional payments of interest may be received on Underlying Assets after the Redemption Date. In light of the foregoing, additional amounts may become available for distribution to Holders of Preference Shares after the Redemption Date and the distribution of such amounts (if any) may be made on dates other than Payment Dates.  Accordingly, the Preference Shares should not be surrendered at this time.  The Trustee will send written notice to the Holders of Preference Shares regarding surrender of such Securities at a later date.

            Notwithstanding anything herein to the contrary, the completion of the redemption described herein is subject to the satisfaction of any additional conditions to the redemption set forth in the Indenture.  With respect to any physical Notes, payment on such Notes will be made only upon presentation and surrender of such Notes to the Trustee by one of the following methods:

By First Class Registered/Certified mail:

 

The Bank of New York Mellon Trust Company,

National Association

Global Corporate Trust

P.O. Box 2320

Dallas, Texas 75221-2320

By Express Delivery Only:

 

 

The Bank of New York
Mellon Trust Company,

National Association

Global Corporate Trust

2001 Bryan Street, 9th Floor

Dallas, Texas 75201

By Hand Only:

 

 

The Bank of New York Mellon

101 Barclay Street

New York, New York, 10286

1st Floor East

Corporate Trust Window

 

            Under the Jobs and Growth Tax Relief Reconciliation Act of 2003, paying agents are required to withhold 28% of gross payments to Holders who are United States persons for U.S. tax purposes and fail to provide a valid taxpayer identification number, or who are not United States persons and fail to provide an appropriate IRS Form W-8, on or before the date upon which Securities are presented for payment.  Holders who are United States persons are additionally subject to a penalty of $50 for failure to provide a taxpayer identification number.  To avoid this 28% withholding, when presenting Securities for payment, please submit a form W-9 if you are a United States person, or an appropriate Form W-8 if you are not a United States person, or other appropriate IRS form.

Should you have any questions, please contact Anthony Menjivar at (412) 234-8437 or at [email protected]

THE BANK OF NEW YORK MELLON TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee and Preference Share Paying Agent



SCHEDULE I

Additional Addressees

 

 

Issuer:

Mountain View Funding CLO 2006-1, Ltd.

c/o MaplesFS Limited

PO Box 1093, Boundary Hall

Cricket Square

Grand Cayman KY1-1102

Cayman Islands

Attention: Directors

Fax: (345) 945-7100

 

Co-Issuer:

Mountain View Funding CLO 2006-1, Corp.

1209 Orange Street

Wilmington, Delaware 19801

Attention: Director

 

Class A-2 Note Agent:

SunTrust Bank

303 Peachtree Street

Atlanta, Georgia  30308

Asset Securitization Group

Re:  Mountain View Funding CLO 2006-1, Ltd.

 

Irish Stock Exchange:

Company Announcements Office

Irish Stock Exchange Limited

28 Anglesea Street

Dublin 2, Ireland

 

Hedge Counterparty:

SunTrust Bank

Derivative Documentation, Operations

3333 Peachtree Road, N.E.

11th Floor, Center Code 3913

Atlanta, GA 30326

Fax: (404) 926-5826

Collateral Manager:

Seix Investment Advisors LLC

One Maynard Drive, Suite 3200

Park Ridge, NJ 07656

 

Rating Agencies:

Standard & Poor's

55 Water Street

New York, New York  10041

Attn:  CDO Surveillance

[email protected]

 

Moody's Investors Service

7 World Trade Center

250 Greenwich Street

New York, New York  10007

Attn:  CBO/CLO Monitoring

Fax:  (212) 553-0355

[email protected]

 

Irish Listing Agent:

Maples and Calder

75 St. Stephen's Green

Dublin 2, Ireland

Attn: Mountain View Funding CLO 2006-1, Ltd.

 

DTC, Euroclear & Clearstream (if applicable):

[email protected]

[email protected]

[email protected]

[email protected]

[email protected]

 

 



This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange

 



* No representation is made as to the correctness of the CUSIP or ISIN numbers either as printed on the Securities or as contained in this notice.  Such numbers are included solely for the convenience of the Holders. 


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