Faxtor to spend €22 million for class A-1 floaters in tender auction

By Susanna Moon

Chicago, Dec. 21 - Faxtor ABS 2005-1 BV said it will spend up to €22 million to purchase its €227 million class A-1 floating-rate notes due Nov. 3, 2070 by auction in a cash tender offer.

There is €169,722,252.80 of the notes outstanding, and the company said it may change the maximum purchase amount.

The maximum purchase price for the notes will be 80% of par, according to a company press release.

Holders also will receive accrued interest.

The offer will run until 5 a.m. ET on Jan. 20. Pricing will be set at noon ET on Jan. 23, and settlement will occur on Jan. 26.

Deutsche Bank AG, London Branch (+44 20 7547 5000, attn: trust and securities services, or e-mail xchange.offer@db.com) is the tender agent.

Faxtor is a private company incorporated in the Netherlands and based in Amsterdam.

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