Bishopsgate: Holders needed for restructuring talks on notes due 2044

By Susanna Moon

Chicago, Aug. 13 – Bishopsgate Asset Finance Ltd. said holders are being asked to discuss possible restructuring options for its £203.68 million of series 1 guaranteed asset-backed notes due 2044 guaranteed by FGIC UK Ltd.

NatWest Markets plc, formerly known as Royal Bank of Scotland plc, as swap counterparty for the notes, is looking at restructuring options for the notes and the swap agreement, according to a notice.

Holders are being asked to identify themselves and to provide details about the amount of notes they hold under a bondholder information request letter dated Aug. 13, the company said.

The information agent is Lucid Issuer Services Ltd. (fax + 44 20 3004 1590 or bishopsqate@lucid-is.com).

The letter will remain in force until Sept. 14, the notice added.

Bishopsgate is a Grand Cayman, Cayman Islands-based company established for the purpose of issuing asset-backed securities.

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