VALLAURIS II CLO PLC - Irish Stock Exchange

More documents

Recommendations

Info

Aggregate Industry Equivalent Unit Score Industry Diversity Score Aggregate Industry Equivalent Unit Score Diversity Score Table Aggregate Industry Equivalent Unit Score Industry Diversity Score Aggregate Industry Equivalent Unit Score Aggregate Industry Equivalent Unit Score Industry Diversity Score 0.0000 0.0000 5.0500 2.7000 10.1500 4.0200 15.2500 4.5300 0.0500 0.1000 5.1500 2.7333 10.2500 4.0300 15.3500 4.5400 0.1500 0.2000 5.2500 2.7667 10.3500 4.0400 15.4500 4.5500 0.2500 0.3000 5.3500 2.8000 10.4500 4.0500 15.5500 4.5600 0.3500 0.4000 5.4500 2.8333 10.5500 4.0600 15.6500 4.5700 0.4500 0.5000 5.5500 2.8667 10.6500 4.0700 15.7500 4.5800 0.5500 0.6000 5.6500 2.9000 10.7500 4.0800 15.8500 4.5900 0.6500 0.7000 5.7500 2.9333 10.8500 4.0900 15.9500 4.6000 0.7500 0.8000 5.8500 2.9667 10.9500 4.1000 16.0500 4.6100 0.8500 0.9000 5.9500 3.0000 11.0500 4.1100 16.1500 4.6200 0.9500 1.0000 6.0500 3.0250 11.1500 4.1200 16.2500 4.6300 1.0500 1.0500 6.1500 3.0500 11.2500 4.1300 16.3500 4.6400 1.1500 1.1000 6.2500 3.0750 11.3500 4.1400 16.4500 4.6500 1.2500 1.1500 6.3500 3.1000 11.4500 4.1500 16.5500 4.6600 1.3500 1.2000 6.4500 3.1250 11.5500 4.1600 16.6500 4.6700 1.4500 1.2500 6.5500 3.1500 11.6500 4.1700 16.7500 4.6800 1.5500 1.3000 6.6500 3.1750 11.7500 4.1800 16.8500 4.6900 1.6500 1.3500 6.7500 3.2000 11.8500 4.1900 16.9500 4.7000 1.7500 1.4000 6.8500 3.2250 11.9500 4.2000 17.0500 4.7100 1.8500 1.4500 6.9500 3.2500 12.0500 4.2100 17.1500 4.7200 1.9500 1.5000 7.0500 3.2750 12.1500 4.2200 17.2500 4.7300 2.0500 1.5500 7.1500 3.3000 12.2500 4.2300 17.3500 4.7400 2.1500 1.6000 7.2500 3.3250 12.3500 4.2400 17.4500 4.7500 2.2500 1.6500 7.3500 3.3500 12.4500 4.2500 17.5500 4.7600 2.3500 1.7000 7.4500 3.3750 12.5500 4.2600 17.6500 4.7700 2.4500 1.7500 7.5500 3.4000 12.6500 4.2700 17.7500 4.7800 2.5500 1.8000 7.6500 3.4250 12.7500 4.2800 17.8500 4.7900 2.6500 1.8500 7.7500 3.4500 12.8500 4.2900 17.9500 4.8000 2.7500 1.9000 7.8500 3.4750 12.9500 4.3000 18.0500 4.8100 2.8500 1.9500 7.9500 3.5000 13.0500 4.3100 18.1500 4.8200 2.9500 2.0000 8.0500 3.5250 13.1500 4.3200 18.2500 4.8300 3.0500 2.0333 8.1500 3.5500 13.2500 4.3300 18.3500 4.8400 3.1500 2.0667 8.2500 3.5750 13.3500 4.3400 18.4500 4.8500 3.2500 2.1000 8.3500 3.6000 13.4500 4.3500 18.5500 4.8600 3.3500 2.1333 8.4500 3.6250 13.5500 4.3600 18.6500 4.8700 3.4500 2.1667 8.5500 3.6500 13.6500 4.3700 18.7500 4.8800 3.5500 2.2000 8.6500 3.6750 13.7500 4.3800 18.8500 4.8900 3.6500 2.2333 8.7500 3.7000 13.8500 4.3900 18.9500 4.9000 3.7500 2.2667 8.8500 3.7250 13.9500 4.4000 19.0500 4.9100 3.8500 2.3000 8.9500 3.7500 14.0500 4.4100 19.1500 4.9200 3.9500 2.3333 9.0500 3.7750 14.1500 4.4200 19.2500 4.9300 4.0500 2.3667 9.1500 3.8000 14.2500 4.4300 19.3500 4.9400 4.1500 2.4000 9.2500 3.8250 14.3500 4.4400 19.4500 4.9500 4.2500 2.4333 9.3500 3.8500 14.4500 4.4500 19.5500 4.9600 4.3500 2.4667 9.4500 3.8750 14.5500 4.4600 19.6500 4.9700 4.4500 2.5000 9.5500 3.9000 14.6500 4.4700 19.7500 4.9800 4.5500 2.5333 9.6500 3.9250 14.7500 4.4800 19.8500 4.9900 4.6500 2.5667 9.7500 3.9500 14.8500 4.4900 19.9500 5.0000 4.7500 2.6000 9.8500 3.9750 14.9500 4.5000 193
Aggregate Industry Equivalent Unit Score Industry Diversity Score Aggregate Industry Equivalent Unit Score Aggregate Industry Equivalent Unit Score Industry Diversity Score Aggregate Industry Equivalent Unit Score 4.8500 2.6333 9.9500 4.0000 15.0500 4.5100 4.9500 2.6667 10.0500 4.0100 15.1500 4.5200 Aggregate Industry Equivalent Unit Score Industry Diversity Score 11.2 The Maximum Weighted Average Life Test The ‘‘Weighted Average Life Test’’ means a test which will be satisfied as at any Measurement Date from (and including) the Effective Date, if the Portfolio Weighted Average Life is on or before 26 July 2017. ‘‘Portfolio Weighted Average Life’’ is, as of any date of determination the date calculated by adding to the Closing Date the Weighted Average Life of the Collateral Debt Obligations (expressed as a number of months from the Closing Date) calculated by (i) summing the products obtained by multiplying (a) each of (1) the Principal Balance (or portion thereof) of each Collateral Debt Obligation (excluding Defaulted Obligations) that is then held by the Issuer and that matures or amortises on any date subsequent to such date of determination, and (2) if the aggregate Principal Balance of the Collateral Debt Obligations on such date of determination is less than the initial aggregate Principal Balance of the Collateral Debt Obligations (excluding Defaulted Obligations) at the Final Effective Date, the difference between such initial aggregate Principal Balance and such outstanding aggregate Principal Balance by (b) the number of months from the Closing Date to the date of such maturity or amortisation (in the case of paragraph (i)(a)(1)) or to such date of determination (in the case of paragraph (i)(a)(2)) and (ii) dividing such sum by the aggregate Principal Balance (excluding Defaulted Obligations) used in paragraph (a)(1) above. 11.3 The Maximum Portfolio Rating Test The ‘‘Maximum Portfolio Rating Test’’ will be satisfied as of any Measurement Date if the Average Portfolio Rating on each Measurement Date (i) from and including the Initial Effective Date to but excluding the Final Effective Date is 2,410 or less which corresponds to a rating of between ‘‘B1’’ and ‘‘B2’’ and (ii) from and including the Final Effective Date is equal to or less than the level specified in the Moody’s Test Matrix (set out above) which is applicable under the Quality Case selected by the Collateral Manager, acting on behalf of the Issuer. The ‘‘Average Portfolio Rating’’ is determined by summing the products obtained by multiplying the Principal Balance of each Collateral Debt Obligation, excluding Defaulted Obligations, by its corresponding Moody’s Rating Factor or Implied Moody’s Rating Factor (as applicable), dividing such sum by the aggregate Principal Balances of all Collateral Debt Obligations, excluding Defaulted Obligations, and rounding the result up to the nearest whole number. The ‘‘Moody’s Rating’’ of any Collateral Debt Obligation, as at any date of determination, shall mean the following: (i) with respect to Collateral Debt Obligations that are Senior Secured Loans, (a) if the obligor of such Collateral Debt Obligation has a corporate family rating by Moody’s, such rating, (b) if the obligor of such Collateral Debt Obligation has no corporate family rating by Moody’s and the Collateral Debt Obligation itself is not rated, but the obligor of such Collateral Debt Obligation has a senior unsecured obligation publicly rated by Moody’s, such rating, (c) if the obligor of such Collateral Debt Obligation has no corporate family rating by Moody’s, but the Collateral Debt Obligation itself is rated, one subcategory below such rating, and (d) if the obligor of such Collateral Debt Obligation has no corporate family rating by Moody’s and neither such Collateral Debt Obligation nor any senior unsecured obligation of the obligor has been publicly rated by Moody’s, but another obligation of the obligor has been rated by Moody’s (including, but not limited to, public 194
Page 1 and 2:
Prospectus dated 26 July 2006 VALLA
Page 3 and 4:
information is in accordance with t
Page 5 and 6:
AVAILABLE INFORMATION To permit com
Page 7 and 8:
Page 4. Final Effective Date ......
Page 9 and 10:
The Collateral Administrator: Branc
Page 11 and 12:
Class VI Structured Combination Not
Page 13 and 14:
Use of Proceeds: Priorities of Paym
Page 15 and 16:
Collateral Quality Tests Overcollat
Page 17 and 18:
Principal Repayments: Reinvestment
Page 19 and 20:
Redemption upon an Effective Date R
Page 21 and 22:
Purchase of Collateral Debt Obligat
Page 23 and 24:
their respective functions under th
Page 25 and 26:
Treatment of Interest Proceeds: Acc
Page 27 and 28:
Authorised Denominations: Form, Reg
Page 29 and 30:
The Depositary: Additional Issuance
Page 31 and 32:
Component. In addition, Class VI St
Page 33 and 34:
the obligor group. Second Lien Loan
Page 35 and 36:
eferred to herein as ‘‘Particip
Page 37 and 38:
Collateral Debt Obligation is enter
Page 39 and 40:
Collateral Manager. The need to sat
Page 41 and 42:
subject the Notes to an additional
Page 43 and 44:
that Collateral Debt Obligations is
Page 45 and 46:
3.4 Subordination of Structured Com
Page 47 and 48:
3.9 Mandatory Redemption of the Not
Page 49 and 50:
compensate for such withholding tax
Page 51 and 52:
Condition 14(b) (Modification and W
Page 53 and 54:
investment decisions for the Issuer
Page 55 and 56:
In relation to the disposal of asse
Page 57 and 58:
Investment Tax Act (the ‘‘Inves
Page 59 and 60:
another member state, except that A
Page 61 and 62:
payments, distributions, votes or c
Page 63 and 64:
in each case, including any value a
Page 65 and 66:
‘‘Class IV Interest Coverage Ra
Page 67 and 68:
‘‘Credit Improved Obligation’
Page 69 and 70:
Balance of all Collateral Debt Obli
Page 71 and 72:
‘‘Effective Date Requirements
Page 73 and 74:
next following Payment Date, an amo
Page 75 and 76:
‘‘Interest Determination Date
Page 77 and 78:
(a) a secured mezzanine loan or oth
Page 79 and 80:
such obligation to purchase or othe
Page 81 and 82:
(e) the Principal Balance of any Co
Page 83 and 84:
(b) any Subordinated Note to be red
Page 85 and 86:
(d) the retention of such Retained
Page 87 and 88:
‘‘Securities Act’’ means th
Page 89 and 90:
(a) such Synthetic Security will no
Page 91 and 92:
2. Form and Denomination, Title, Tr
Page 93 and 94:
more bids from one or more brokers
Page 95 and 96:
(2) any Interest Rate Hedge Termina
Page 97 and 98:
(X) (Y) (Z) at the option of the Co
Page 99 and 100:
III Mezzanine Notes, in whole or in
Page 101 and 102:
Failure to Appoint a Replacement Co
Page 103 and 104:
Obligation (save in the case of (i)
Page 105 and 106:
the avoidance of doubt, any schedul
Page 107 and 108:
(BB) termination of the Interest Ra
Page 109 and 110:
(b) (c) (d) at any time in repaymen
Page 111 and 112:
(I) (J) (K) (L) The Retained Portio
Page 113 and 114:
pursuant thereto provided that such
Page 115 and 116:
amount being referred to herein as
Page 117 and 118:
(b) (viii) pay its debts generally
Page 119 and 120:
Notes in accordance with Condition
Page 121 and 122:
nearest one hundred-thousandth of a
Page 123 and 124:
the Class II Senior Notes the Class
Page 125 and 126:
(A) (B) (C) in respect of each Coll
Page 127 and 128:
immediately prior to the related Pa
Page 129 and 130:
(C) (D) the Collateral Administrato
Page 131 and 132:
(b) (c) on the Register at the clos
Page 133 and 134:
(d) as a result of presentation for
Page 135 and 136:
(d) (e) (i) (ii) If an Event of Def
Page 137 and 138:
12. Prescription (a) Note represent
Page 139 and 140:
necessary to facilitate the adminis
Page 141 and 142:
Except where expressly provided oth
Page 143 and 144:
Combination Notes, in the proportio
Page 145 and 146:
FORM OF THE NOTES References below
Page 147 and 148:
interests in the Exchanged Global N
Page 149 and 150: BOOK-ENTRY CLEARANCE PROCEDURES AND
Page 151 and 152: Book-Entry Interests owned through
Page 153 and 154: A person acquiring a Book-Entry Int
Page 155 and 156: RATINGS OF THE NOTES It is a condit
Page 157 and 158: EXPECTED AVERAGE LIVES OF THE NOTES
Page 159 and 160: Deutsche International Finance (Ire
Page 161 and 162: DESCRIPTION OF THE COLLATERAL MANAG
Page 163 and 164: A three-dimensional organization -
Page 165 and 166: Contribution to revenues (consolida
Page 167 and 168: Directors’ work is prepared and o
Page 169 and 170: Jean-Luc Simon - CDO Director Jean-
Page 171 and 172: on behalf of, the Issuer of Synthet
Page 173 and 174: the Interest Account and/or to the
Page 175 and 176: to a non-default rate or an improve
Page 177 and 178: connection with any such sale or re
Page 179 and 180: in Sections 7.3 (Sale of Credit Imp
Page 181 and 182: 7.6 Unscheduled Principal Proceeds
Page 183 and 184: (b) in the case of proceeds resulti
Page 185 and 186: Obligation. For the avoidance of do
Page 187 and 188: Institution, having a credit rating
Page 189 and 190: the Defaulted Obligation at the fai
Page 191 and 192: (a) where the Issuer, following con
Page 193 and 194: In the event that the Issuer receiv
Page 195 and 196: (C) at its own cost, (i) in the cas
Page 197 and 198: Upon the occurrence of any Event of
Page 199: For purposes of calculating the Div
Page 203 and 204: (3) shall be two subcategories abov
Page 205 and 206: (i) (ii) (iii) if such Collateral D
Page 207 and 208: Moody’s Recovery Rate Table Oblig
Page 209 and 210: Reinvestment Period, with the appli
Page 211 and 212: 11.10 S&P CDO Evaluator Test The
Page 213 and 214: DESCRIPTION OF THE COLLATERAL MANAG
Page 215 and 216: Collateral Management Agreement (Ap
Page 217 and 218: DESCRIPTION OF THE COLLATERAL ADMIN
Page 219 and 220: DESCRIPTION OF THE REPORTS 1. Month
Page 221 and 222: (P) (Q) which consist of Participat
Page 223 and 224: Class I Senior Notes, Class II Seni
Page 225 and 226: In certain circumstances, Irish tax
Page 227 and 228: amount of interest paid, but also o
Page 229 and 230: General The following summary descr
Page 231 and 232: ‘‘grossed up’’ for any mate
Page 233 and 234: maturity of such Notes will be the
Page 235 and 236: extent thereof), with payments attr
Page 237 and 238: PREFERRED EQUITY CERTIFICATES AND T
Page 239 and 240: or more (measured by vote or value)
Page 241 and 242: values at the time of purchase. A s
Page 243 and 244: associated territories. These apply
Page 245 and 246: The Class IV Mezzanine Notes, the S
Page 247 and 248: Any Plan fiduciary that proposes to
Page 249 and 250: For the avoidance of doubt, all ref
Page 251 and 252:
(h) (i) (j) (k) (l) (m) any company
Page 253 and 254:
means of sufficient information on
Page 255 and 256:
(c) (d) (e) restrictions described
Page 257 and 258:
(g) representations and warranties.
Page 259 and 260:
PLAN AS DEFINED IN SECTION 3(3) OF
Page 261 and 262:
THE TERMS OF THE TRUST DEED. EACH T
Page 263 and 264:
GENERAL INFORMATION 1. Clearing Sys
Page 265 and 266:
11. Expenses The total expenses rel
Page 267 and 268:
CDO Liabilities....................
Page 269 and 270:
Currency Swap Counterparty.........
Page 271 and 272:
Initial Ratings ...................
Page 273 and 274:
OAT Strips Pledge Agreement .......
Page 275 and 276:
Registered Notes ..................
Page 277 and 278:
Synthetic Counterparty Default ....
Page 279:
imprima de bussy — C94339
show all

VALLAURIS II CLO PLC - Irish Stock Exchange

Create successful ePaper yourself

Delete template?

Save as template?