Commonwealth Securitisations P.L.C. Change to PLB Terms And Conditions CORRECT TO PREVIOUS FORMAL NOTICE 102

Commonwealth Securitisations P.L.C. - (DELISTED)


  • 23/11/2016
  • 14:20

Notice: 104

Commonwealth Securitisations P.L.C. have confirmed on the 25th October 2016 by Board Resolution that there was an update to the composition of the company's assets indicated in the Performance Linked Bonds terms and conditions of the Collateral held within Linked Compartment 7 (Level 7 Global Holdings (Asset Backed)ETI).

MEMBER FIRM

Argentarius ETI Management Limited

Issuer Affected

Commonwealth Securitisations P.L.C.

Affected Tranche(s)

EUR 10,000,000 (Asset Backed) Exchange Traded Instruments named Level 7 Global Holdings ETI (ISIN MT0000951252)

Update

RESOLUTION IN WRITING SIGNED BY ALL THE DIRECTORS OF THE COMPANY:

In pursuit of the business of the Company, the Board of Directors hereby resolve the following:

1. To approve the update to the composition of the company’s assets indicated in the Performance Linked Bonds terms and conditions having ISIN MT0001191205.

2.  To approve that clause 7 of the Performance Linked Bonds terms and conditions shall now read as follows:

The Company's assets will consist of:

- bonds issued by Level 7 Global Holdings Corp. bearing a fixed interest of 5.25% p.a.

- cash and financial instruments held at Sparkasse Bank Malta plc

Up to ten percent of company’s assets may comprise on assets not disclosed in §7

3. To amend § 4 Coupon Payments in the Terms and Conditions to read as follows:

- The Coupon Payments shall be a variable coupon of at least five point two five percent (5.25%) p.a. payable on the Coupon Payment Date (as indicated hereunder).

- The Coupon Payment Date shall be every calendar quarter with the first Coupon Payment Date being the end of December 2016 or as may otherwise be decided by the board of directors from time to time.

- The Coupon shall be calculated in accordance with ACT/365.

         4. To notify the investors of the above-mentioned update.

Signed and executed on the: 25th October 2016.

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