Corporate Trust Services
9062 Old Annapolis Road,
Columbia, MD 21045-1951
NOTICE OF RESULTS OF AUCTION CONDUCTED
PURSUANT TO SECTION 9.4 OF THE INDENTURE
SORIN REAL ESTATE CDO IV, LTD.
To: The Parties listed on Schedule A hereto.
Reference is made to that certain Indenture dated as of September 7, 2006 (as amended, modified or supplemented, the "Indenture") among SORIN REAL ESTATE CDO IV LTD., as Issuer (the "Issuer"), SORIN REAL ESTATE CDO IV CORP., as Co-Issuer (the "Co-Issuer"), WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee (the "Trustee") and Securities Intermediary and SORIN CAPITAL MANAGEMENT, LLC, as Advancing Agent and Override Servicer. 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 Auction Pursuant to Section 9.4 of the Indenture
Notice is hereby given that an Auction was conducted in accordance with Section 9.4 and Schedule C of the Indenture on April 16, 2018 (the "April 2018 Auction Date"). The Trustee was unable to sell the Collateral Debt Securities on the April 2018 Auction Date because it did not receive bids that would result in Sale Proceeds, together with the Balance of available Eligible Investments and Cash held by the Issuer, at least equal to the Total Redemption Amount. Consequently, an Auction Call Redemption will NOT occur on the April 30, 2018 Payment Date. You are further notified that pursuant to Section 9.4 of the Indenture, the Trustee shall conduct an Auction prior to each subsequent Payment Date if the Notes are not redeemed in full on the prior Payment Date.
You may direct questions and requests to the attention of William Wood by telephone at (410) 884-2042, by e-mail at [email protected], by facsimile at (866) 523-5038, or by mail addressed to Wells Fargo Bank, National Association, Corporate Trust Department, Attn: William Wood, 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 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: April 16, 2018
WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
Holders of Notes*:
83586YAA1, 83586YAB9, 83586YAC7, 83586YAD5, 83586YAE3, 83586YAF0, 83586YAG8, 83586YAH6, G82886AA3, 83586YAJ2, Income Notes
Sorin Real Estate CDO IV Ltd.
c/o MaplesFS Limited
P.O. Box 1093
Grand Cayman KY1-1102
Attention: The Directors
With a copy to:
Maples and Calder
P.O. Box 309
Ugland House, South Church Street
Grand Cayman KY1-1104
Sorin Real Estate CDO IV Corp.
c/o Corporate Creations Network Inc.
1308 Delaware Avenue
Wilmington, Delaware 19806
Collateral Manager and Advancing Agent:
430 Park Avenue
New York, NY 10022
Attn: Robert Looloian
Standard & Poor's Ratings Services
55 Water Street, 41st Floor
New York, New York 10041
Attention: Sorin Real Estate CDO IV Ltd.
Email: [email protected]
Attention: Structured Finance Ratings,
Asset-Backed Surveillance Group-CBO/CLO
Moody's Investor's Service
7 World Trade Center
250 Greenwich Street
New York, New York 10007
Attn: CBO/CLO Monitoring
Email: [email protected]
Irish Stock Exchange Announcement Office:
Company Announcement Office
The Irish Stock Exchange Limited
28 Anglesea Street
Dublin 2, Ireland
Irish Note Paying Agent:
Custom House Administration and Corporate Services Limited
25 Eden Quay
Dublin 1, Ireland
Irish Listing Agent:
McCann FitzGerald Listing Services Limited
2 Harbourmaster Place
Dublin 1, Ireland
The Bank of New York Mellon
101 Barclay Street
New York, New York, 10286
This announcement has been issued through the Companies Announcement Service of Euronext Dublin.
* 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 Notes. The numbers are included solely for the convenience of the Holders.
This information is provided by RNS