Attentus CDO I Offering Circular - Irish Stock Exchange

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Securities Act ..................................................................................................................................................... i Security Issuers ............................................................................................................................................... 13 Semi-Annual Interest Smoothing Test ........................................................................................................140 Semi-Annual Pay Security ...........................................................................................................................140 Senior Indebtedness......................................................................................................................................121 Senior Loans.................................................................................................................................................... 13 Senior Note Component ................................................................................................................................... 2 Senior Notes ...................................................................................................................................................i, 2 Senior Notes Redemption Price..................................................................................................................... 65 Senior Secured Loans ..................................................................................................................................... 13 Senior Securities .....................................................................................................................................13, 111 Senior Securities Issuer ..........................................................................................................................13, 111 Senior Subordinated Securities ...................................................................................................................... 13 Senior Unsecured Loans................................................................................................................................. 13 Share Trustee.............................................................................................................................................3, 107 Similar Law...................................................................................................................................................... vi Spread Excess ...............................................................................................................................................135 Standard & Poor’s.............................................................................................................................................. i Stated Maturity.................................................................................................................................................. 9 Subordinate Collateral Management Fee ....................................................................................................160 Subordinated Note Component........................................................................................................................ 2 Subordinated Notes........................................................................................................................................i, 1 Subordinated Notes Redemption Price.......................................................................................................... 65 Subordinated Securities..........................................................................................................................13, 111 Subordinated Securities Issuer ...............................................................................................................13, 111 Subordinated Security Indenture .................................................................................................................127 Substitute Counterparty................................................................................................................................145 Substitute Deliverable Obligation................................................................................................................132 Successor Securities......................................................................................................................................119 Synthetic Securities Issuer ...........................................................................................................................131 Synthetic Security.........................................................................................................................................130 Synthetic Security Collateral........................................................................................................................131 Synthetic Security Collateral Account ........................................................................................................148 Synthetic Security Counterparty..................................................................................................................131 Tangible Net Worth ........................................................................................................................................ 79 Tangible Net Worth Test................................................................................................................................ 80 Tax Event ........................................................................................................................................................ 63 Tax Materiality Condition.............................................................................................................................. 63 Tax Redemption........................................................................................................................................11, 62 TIN.................................................................................................................................................................165 Total Capitalization ........................................................................................................................................ 80 Total Debt........................................................................................................................................................ 80 Total Debt to Total Capitalization Ratio ....................................................................................................... 80 Total Debt to Total Capitalization Test......................................................................................................... 80 Total Senior Redemption Amount................................................................................................................. 62 Transfer Agent ................................................................................................................................................ 86 Treasury........................................................................................................................................................... 53 Trust Agreement ...........................................................................................................................................114 Trust Agreement Event of Default ..............................................................................................................125 Trust Preferred Issuer Securities..................................................................................................................114 Trust Preferred Securities.......................................................................................................................13, 111 I-7
Trust Preferred Securities Issuer............................................................................................................13, 111 Trust Preferred Securities Maturity Date ....................................................................................................116 Trust Preferred Securities Maturity Redemption Price ..............................................................................117 Trust Preferred Securities Optional Redemption Price ..............................................................................117 Trust Preferred Securities Payment Date ....................................................................................................115 Trust Preferred Securities Redemption Price..............................................................................................117 Trust Preferred Securities Special Event.....................................................................................................123 Trust Preferred Securities Special Redemption Date .................................................................................116 Trust Preferred Securities Special Redemption Price.................................................................................117 Trust Preferred Securities Tax Event...........................................................................................................123 Trustee............................................................................................................................................................i, 2 U.S. Dollars ...................................................................................................................................................... ix U.S. Holder....................................................................................................................................................163 U.S. Person.....................................................................................................................................................viii U.S. Related Person ......................................................................................................................................166 U.S.$ ................................................................................................................................................................. ix Underlying Instruments.................................................................................................................................. 80 Underlying Trust...........................................................................................................................................111 Uninvested Proceeds....................................................................................................................................... 80 Uninvested Proceeds Account .....................................................................................................................150 United States Person.....................................................................................................................................163 Up-Front Collateral Management Fee.........................................................................................................160 USA PATRIOT Act........................................................................................................................................ 53 Weighted Average Coupon..........................................................................................................................135 Weighted Average Coupon Test..................................................................................................................135 Weighted Average Life ................................................................................................................................136 Weighted Average Life Test ........................................................................................................................136 Weighted Average Spread............................................................................................................................136 Weighted Average Spread Test ...................................................................................................................136 I-8
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OFFERING CIRCULAR Attentus CDO I, L
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(other than the Class A-1 Notes) in
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DELIVERY OF THIS OFFERING CIRCULAR
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UNITED STATES PRIMARILY FOR THE BEN
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as defined in Regulation S under th
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DOLLAR EQUIVALENT OF AT LEAST A$500
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VARY DEPENDING ON THE RELEVANT JURI
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____________________ NOTICE TO RESI
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____________________ NOTICE TO RESI
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____________________ NOTICE TO RESI
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____________________ NOTICE TO RESI
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obtained from the Trustee. It is no
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TABLE OF CONTENTS (continued) Page
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The Class A-1 Notes, the Class A-2
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The Issuer will not have any materi
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payable on such next succeeding Bus
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the Offered Notes.” Additionally,
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Mandatory Redemption of Senior Note
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“Description of the Offered Notes
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Entities for which the primary expe
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Form, Registration and Transfer of
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nonexempt prohibited transaction un
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case of a governmental, foreign or
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No Combination Note (or any interes
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ERISA Matters: See “Certain ERISA
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Class and that remain outstanding h
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greater than the liquidation value
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As a general matter, in the case of
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of performing the Coverage Tests, a
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Backed Securities” and similar ri
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among other things, a substantial r
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Indenture intended to ensure that s
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Debentures and Trust Preferred Secu
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should arise in any manner, the Col
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Investment Company Act. None of the
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approximately equal to the market p
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Interest Rate Risk. The Senior Note
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Changes in Tax Law; Withholding on
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In January 2003, the Financial Acco
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verification purposes, an applicati
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Any interest on the Class C-2 Notes
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Calculation Agent by reference to r
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Class C-1 Notes, fifth, the Class C
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in its payment obligations thereund
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“Reg Y Institution” means any H
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Payments Payments in respect of pri
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(5) to the payment of accrued and u
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Notes has been paid in full; provid
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On the first Distribution Date, if
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new security or package of securiti
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that if any such date would otherwi
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to be equal to 50% of the outstandi
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“Tangible Net Worth Test” means
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The Class D Overcollateralization T
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If the calculation of the Class A/B
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Notes and the registration of trans
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DTC notifies the Issuer that it is
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Plan Investors owning 25% or more o
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(iii) In addition, no Reg Y Institu
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(x) DTC has advised the Co-Issuers
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or clause (ii) above under “Event
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obligations under any instrument in
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Counterparty that such Hedge Counte
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trust executed in connection with t
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Until such time as a Holder of a Co
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confirmation, together with any con
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Maples Finance Limited will act as
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of withdrawal to the Company Announ
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(iii) (iv) (v) (vi) (vii) (viii) (i
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The Portfolio It is expected that o
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Prior to the termination of any Ext
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amount equal to the aggregate Princ
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following such merger, consolidatio
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securities) initially issued after
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Certain Covenants If (i) there has
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Because the Issuer may own less tha
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maturity of any Senior Indebtedness
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The Collateral Manager shall prompt
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(iii) establishing recovery floors
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Moody's Rating Moody's Rating Facto
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Weighted Average Life Test. “Weig
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“B3”; (3) has received a long-t
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(xvi) if such Additional Collateral
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non-public or otherwise might prohi
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February 24, 2006 among, inter alia
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(or shall not have a long-term or s
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The obligations of the Issuer under
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in its capacity as a banking instit
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Account prior to the release of the
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Institutions Group at Morgan Stanle
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expense of the Co-Issuers under the
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Page 187 and 188: equal to the shortfall will be defe
Page 189 and 190: purposes, and if the entity has tax
Page 191 and 192: U.S. Holder and stating that the No
Page 193 and 194: eporting requirement which may appl
Page 195 and 196: persons or the fiduciaries of the B
Page 197 and 198: LIMITATION, FOREIGN AND GOVERNMENTA
Page 199 and 200: CLOSING DATE BY PERMITTED PLANS) (D
Page 201 and 202: that the Initial Purchaser reasonab
Page 203 and 204: clauses (i)-(iii) above. In certain
Page 205 and 206: (ii) a transferee acquiring an inte
Page 207 and 208: of Regulation S Class E Notes (othe
Page 209 and 210: INTEREST HEREIN WAS IN BREACH, AT T
Page 211 and 212: PROVIDE WRITTEN NOTICE OF THE TRANS
Page 213 and 214: Securities and Exchange Commission
Page 215 and 216: investment is consistent with any a
Page 217 and 218: BUYER OR (2) AN ACCREDITED INVESTOR
Page 219 and 220: CODE (OR, IN THE CASE OF A GOVERNME
Page 221 and 222: The initial purchaser of Subordinat
Page 223 and 224: VOID AB INITIO, AND WILL NOT OPERAT
Page 225 and 226: LISTING AND GENERAL INFORMATION 1.
Page 227 and 228: LEGAL MATTERS Certain United States
Page 229 and 230: Class C-1 Deferred Interest........
Page 231 and 232: Global Senior Notes................
Page 233: Real Estate Entities ..............
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Attentus CDO I Offering Circular - Irish Stock Exchange

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