RNS Number : 6625D
Juno (Eclipse 2007-2) Ltd
18 May 2012
Company name JUNO (ECLIPSE 2007-2) LTD
For Immediate Release 18 May 2012
IRISH STOCK EXCHANGE
In relation to JUNO (ECLIPSE 2007-2) LTD (the "Issuer")
€677,250,000 Class A Floating Rate Notes due November 2022
€69,150,000 Class B Floating Rate Notes due November 2022
€74,300,000 Class C Floating Rate Notes due November 2022
€40,900,000 Class D Floating Rate Notes due November 2022
€5,750,000 Class E Floating Rate Notes due November 2022
€600,000 Class X Floating Rate Notes due November 2022
Information Update: Den Tir Reference Obligations
Words and expressions referred to in this letter but not otherwise defined herein shall have the same meanings as given to them in the Prospectus dated 25 May 2007 in relation to the €867,950,000 Floating Rate Notes due November 2022 issued by Issuer.
We refer to the Facility Agreement dated 27 April 2006 among Tir-Abdijstraat N.V. as Borrower and Barclays Bank PLC as Original Lender and Security Agent, in respect of a loan facility in the initial principal amount of €25,000,000, as amended by an amendment agreement dated 25 October 2006 among the same parties (the "Senior Credit Agreement"); and,
Facility Agreement dated 25 October 2006 among O'Mahony Holding SPRL and M&N Malta Ltd. as Borrowers and Barclays Bank PLC as Original Lender and Security Agent in respect of a loan facility in the initial principal amount of €5,900,000, as amended by an amendment agreement dated 31 January 2007 among the same parties and as further amended by an amendment agreement dated 4 May 2007 among the same parties (the "Junior Credit Agreement").
The Sub-Special Servicer has pursued a consensual sale with the Borrower in relation to the Den Tir Reference Obligations. Investment Agents instructed, attracted 33 potential purchasers which resulted in 6 bids. From these bids as previously advised to the Issuer, a potential purchaser was identified and the sale has now been completed at a gross selling price of €7m, with net proceeds after payment of local taxes (€164,727), Registration Duties (€642,374) and other fees and expenses of €5.963 million.
The Sub-Special Servicer in its capacity as Calculation Agent has already confirmed to the Issuer, Cash Manager and Trustee that the relevant Reference Obligations complied, or is deemed to have complied, in all material respects with the applicable Reference Obligation Eligibility Criteria on the relevant Effective Date.
The Sub-Special Servicer in its capacity as Calculation Agent will proceed to determine the Liquidation Loss Amount as required under the credit default swap protection in respect to the Den Tir Reference Obligations of Barclays Bank PLC, and thereafter it is anticipated an Eligibility Criteria Verification Agent will be instructed.
Structured Finance Management (Ireland) Limited,
1 Grant's Row,
Lower Mount Street,
+353 1 +6975350
As Company Secretary for
JUNO (ECLIPSE 2007-2) Limited
This announcement has been issued through the Companies Announcement Service of
the Irish Stock Exchange.
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