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CFS Retail calls noteholder meeting to amend 5.75% convertibles
By Marisa Wong
Madison, Wis., April 28 - CFS Retail Property Trust 1 will be convening on May 28 a meeting of holders of its A$300 million 5.75% convertible notes due 2016, according to a notice.
CFS Retail is seeking approval from noteholders to amend conditions relating to conversion rights under the notes.
The meeting requires a quorum of two or more persons holding notes representing at least 66% of the total outstanding principal amount.
If the quorum is not met, the meeting will be adjourned to a later date. The quorum at the adjourned meeting will be two or more persons holding notes representing at least 33% of the total outstanding principal amount.
The approval threshold required to pass the extraordinary resolution to amend the notes is a majority consisting of at least 75% of the votes cast.
Bank of New York Mellon is the trustee.
CFS Retail Property Trust is a real estate investment trust based in Sydney, Australia, that invests in shopping centers and retail outlet centers.
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