Corporate Trust Services
9062 Old Annapolis Road
Columbia, MD 21045-1951
NOTICE OF RESULTS OF AUCTION CONDUCTED
PURSUANT TO SECTION 9.5 OF THE INDENTURE
BELLE HAVEN ABS CDO 2006-1, LTD.
BELLE HAVEN ABS CDO 2006-1, LLC
To: The Parties listed on Schedule A hereto.
Reference is made to that certain Indenture dated as of May 24, 2006 (as amended, modified or supplemented, the "Indenture") among BELLE HAVEN ABS CDO 2006-1, LTD., as Issuer (the "Issuer"), BELLE HAVEN ABS CDO 2006-1, LLC, as Co-Issuer (the "Co-Issuer, and together with the Issuer, the "Co-Issuers"), and WELLS FARGO BANK, NATIONAL ASSOCIATION, 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 Conducted Pursuant to Section 9.5 of the Indenture
Notice is hereby given that the Auction was conducted in accordance with Sections 9.5 and Schedule E of the Indenture. The Trustee was unable to sell the Collateral Debt Securities at the Auction because it did not receive bids that would result in Sale Proceeds, together with the Balance of Available Eligible Investments and Cash in the Accounts, at least equal to the Auction Call Redemption Amount. Consequently, an Auction Call Redemption will NOT occur on the July 5, 2017 Quarterly 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 Quarterly Distribution Date if the Notes are not redeemed in full on the prior Quarterly Distribution Date. However, the Trustee shall not conduct an Auction on an Auction Date if (i) an Auction was conducted on the preceding Auction Date and (ii) 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 to the attention of Devon Horst by telephone at (410) 884-2335, 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.: Devon Horst, MAC: R1204-010, 9062 Old Annapolis Road, 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: June 20, 2017
WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
Holders of Notes:* 078452AA7, 078452AB5, 07845AAE1, 078452AC3, 078452AD1, 078452AE9,
078452AF6, 07845AAA9, 07845AAB7, G0969HAA2, G0969HAB0, G0969HAC8, G0969HAD6,
Belle Haven ABS CDO 2006-1, Ltd.
c/o MaplesFS Limited
P.O. Box 1093GT,
Grand Cayman, Cayman Islands
Telecopy no. (345) 945-7100
Belle Haven ABS CDO 2006-1, LLC
c/o Puglisi & Associates
850 Library Avenue, Suite 204
Newark, Delaware 19711
Attention: Donald Puglisi, Esq.
Telecopy no. 302-738-7210
The Collateral Manager:
Cairn Capital Limited
London SW1X 7LY
Phone Number: +44 (0)20 7259 4800
Fax Number: +44 (0)20 7259 4899
Attn: Cairn Legal
Moody's Investors Service
7 World Trade Center
250 Greenwich Street
New York, New York 10007
Attn: CBO/CLO Monitoring
Facsimile No.: 212-553-0355
e-mail: [email protected]
Standard & Poor's
55 Water Street, 41st Floor
New York, New York 10041-0003
Fax: (212) 438-2664
Attention: Structured Finance Ratings
Asset-Backed Securities CBO/CLO Surveillance
E-mail: [email protected]
Irish Stock Exchange:
The Company Announcements Office
The Irish Stock Exchange
28 Anglesea Street
Dublin 2 Ireland
21st June 2017
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.
This information is provided by RNS