Intertrust

Capital Markets Members login

Send_me
Forgot password?

E-MAC Program III B.V. Compartment NL 2008-I

THIS NOTICE IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION

 

This notice is made pursuant to the Act on Financial Supervision ( Wet op het financieel toezicht), pursuant to which inside information should be made forthwith available .

If you are in any doubt as to the action you should take, you are recommended to seek your own financial, legal or other advice immediately from your stockbroker, bank manager, solicitor, accountant or other appropriately authorised independent financial adviser.

 

Capitalised terms used herein have the meanings defined or construed in the master definitions schedule attached as Schedule 1 to the Programme Agreement

 

E-MAC Program III B.V.

Compartment NL 2008-I  
(the " Issuer")

Notice is hereby given with respect to notes of each of the following class(es):

€ 72,500,000   Senior Class A1 Notes due 2048, issue price 100 per cent. ISIN: XS0348427955

€ 160,000,000   Senior Class A2 Notes due 2048, issue price 100 per cent. ISIN: XS0344800957

€ 7,500,000   Mezzanine Class B Notes due 2048, issue price 100 per cent. ISIN XS0344801765

€ 3,900,000   Junior Class C Notes due 2048, issue price 100 per cent. ISIN XS0344801922

€ 6,100,000 Subordinated Class D Notes due 2048, issue price 100 per cent. ISIN XS0344802060

 (the " Put Option Notes" and each class of Notes, a " Class of Put Option Notes" and together the " Classes of Put Option Notes" and the holders thereof the " Put Option Noteholders" )

Amsterdam,   21 April 2011

Notice is hereby given by the Issuer that, with reference to Condition 6 (iv) (d) of the Terms and Conditions of the Notes under the Program and the Final Terms of Compartment NL 2008-I, all of the Rating Agencies S&P, Fitch and Moody’s have confirmed the ratings currently assigned to the Put Option Notes.

Put Option Noteholders have been informed by the notice of 21 March 2011 that the Issuer has received a letter from the MPT Provider stating that it will not, and also does not have the financial means, to grant the Servicing Advance loan on or before the First Put Date. Furthermore, the Issuer has not found any third party which would be willing to purchase Mortgage Receivables or to provide the Servicing Advance loan on or before the First Put Date, at the terms provided for in the relevant documents. Consequently, the Issuer does not have funds available to redeem the Put Option Notes which are subject to redemption on the First Put Date.

Therefore, with reference to Condition 6(d)(vi) none of the Put Option Notes will be redeemed on the First Put Date and, consequently, the Extension Margins will apply as from the First Put Date as published on 25 February 2011.

 

ATC_Logo_blackcopy ATC Management B.V.

Director of the Issuer

Fred. Roeskestraat 123

1076   EE Amsterdam, the Netherlands

                     securitisation@atccapitalmarkets.com

Notice of the Issuer in relation to the First Put Date
Private Wealth Services