Published on 11/18/2011 in the Prospect News Liability Management Daily.
HSBC Bank tenders for Nemus' £115.52 million of floating-rate notes
By Angela McDaniels
Tacoma, Wash., Nov. 18 - HSBC Bank plc began tender offers for £115,517,634 of outstanding floating-rate notes due Oct. 26, 2014 issued by Nemus Funding No. 1 plc, according to a filing with the London Stock Exchange.
The notes eligible for the offer are noted in the table below.
HSBC Bank will pay the purchase price specified below plus accrued interest, in each case multiplied by the applicable pool factor to reflect the prior amortization of the notes.
The bank plans to hold any notes purchased in the offer for its own account.
HSBC Bank is acting as dealer manager (44 0 20 7991 5874 or liability.management@hsbcib.com). The tender agent is Lucid Issuer Services Ltd. (contact Thomas Choquet or Sunjeeve Patel at +44 0 20 7704 0880 or nemus@lucid-is.com).
Nemus Funding is a synthetic securitization of corporate real estate loans originated and arranged by HSBC Bank, a financial services company based in London.
| Notes | Purchase Price | Pool Factor | Outstanding amount
|
| £35.73 million class A notes | £960 | 0.663208372 | £23,696,435
|
| £44.84 million class B notes | £940 | 0.663208372 | £29,738,263
|
| £35,905,000 class C notes | £900 | 0.663208372 | £23,812,497
|
| £40,375,000 class D notes | £840 | 0.663208372 | £26,777,038
|
| £17.33 million class E notes | £650 | 0.663208372 | £11,493,401
|
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