DTC Eight Funding starts consent solicitation for Libor change

Chicago, Dec. 20 – DTC Eight Funding Ltd. started a consent solicitation to prepare for the cessation of Libor for three of its floating-rate notes, according to a market source.

The issuer is seeking to amend its

• ¥35 billion class A floating-rate secured notes due 2038;

• ¥1.78 billion class B floating-rate secured notes due 2038; and

• ¥482,078,004 class F principal-only secured note due 2038.

The issuer seeks to change the basis for the floating rate to one-month TORF multiplied by (360/365) minus 2.923 basis points and then the relevant margins for each class of notes. The interest rate basis would replace yen Libor.

Noteholder meetings will be held starting on Jan. 14 at 6 a.m. ET. The meetings will be conducted separately by teleconference starting at 10-minute intervals.

D.F. King Ltd. is the information and tabulation agent (+44 20 7920 9700, JPYLIBORTransition@dfkingltd.com, https://sites.dfkingltd.com/DTC8.

DTC Eight is a commercial mortgage-backed securitization for properties in Japan.

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