Dorset Street holders vote to amend seven series of floaters; meeting moved for two series

By Susanna Moon

Chicago, Feb. 23 - Dorset Street Finance Ltd. said holders approved amending seven series of floating-rate credit-linked notes to modify the portfolio credit swap provisions.

Holders of those seven series of notes voted at meetings held on Feb. 16 in London.

The meetings for the €60 million class E floating-rate credit-linked notes and €30 million class H floaters did not meet the quorum and have been rescheduled for March 5.

For the seven series of notes, holders approved the auction valuation modifications that take effect 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:

• €45 million class A1 floating-rate credit-linked notes;

• €75 million class A2 floating-rate credit-linked notes;

• €98.25 million class B floating-rate credit-linked notes;

• €91.5 million class C floating-rate credit-linked notes;

• €75 million class D floating-rate credit-linked notes;

• €37.5 million class F floating-rate credit-linked notes; and

• €33.75 million class G 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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