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Hanover Street holders vote to amend 10 credit-linked floater series
By Susanna Moon
Chicago, Feb. 23 - Hanover Street Finance Ltd. said holders approved amending 10 series of floating-rate credit-linked notes to modify the portfolio credit swap provisions.
The noteholder meetings for the nine classes of notes were held on Feb. 17 in London.
Holders approved the auction valuation modifications that will come into play if the International Swaps and Derivatives Association, Inc. announces that the Credit Derivatives Determinations Committee has resolved that an auction will be held for a credit event, according to a press release.
Covered by the changes are the following series of notes:
• €72.2 million class A1 floating-rate credit-linked notes;
• €80.5 million class A2 floating-rate credit-linked notes;
• €80.5 million class B floating-rate credit-linked notes;
• €70 million class C floating-rate credit-linked notes;
• €50.4 million class D floating-rate credit-linked notes;
• €30.45 million class E floating-rate credit-linked notes;
• €29.4 million class F floating-rate credit-linked notes;
• €28 million class G floating-rate credit-linked notes;
• €24.5 million class H floating-rate credit-linked notes; and
• €18.2 million class I floating-rate credit-linked notes.
BNY Mellon Corporate Trustee Services Ltd. is the trustee.
The issuer is a limited liability company incorporated in Jersey.
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