Aeolus CDO noteholders approve new Sept. 30, 2011 maturity date

By Angela McDaniels

Tacoma, Wash., Sep. 23 - Aeolus CDO Ltd. received holder approval to accelerate the maturity of six series of notes to Sept. 30, 2011, according to a company filing with the London Stock Exchange.

Accordingly, the notes will be redeemed on the amended final maturity date at the applicable redemption prices.

The six series of notes are as follows:

• €49.7 million of class A secured credit-linked floating-rate notes due 2066;

• €25 million of class B secured credit-linked floating-rate notes due 2066;

• €12.5 million of class C secured credit-linked deferrable interest floating-rate notes due 2066;

• €13.8 million of class D secured credit-linked deferrable interest floating-rate notes due 2066;

• €9.5 million of class E secured credit-linked deferrable interest floating-rate notes due 2066; and

• €15.5 million of subordinated secured credit-linked floating-rate notes due 2066.

The company originally sought to change the maturity date to Sept. 19, 2011 but changed the date after the holders of the class D notes rejected the original proposal.

The holders of the class D notes approved the Sept. 30, 2011 maturity date at an adjourned meeting on Sept. 22. The holders of the class A, B and C notes approved the change at meetings on Sept. 7. The holders of the class E notes and the subordinated notes gave their approval via written resolutions on Sept. 22.

Approval was also received from the credit default swap counterparty and the instructing creditor.

Bank of New York Mellon is the principal paying agent, and J.P. Morgan Bank (Ireland) plc is the paying agent. BNY Mellon Corporate Trustee Services Ltd. is the trustee.

Aeolus CDO is based in St. Helier on the Channel Island of Jersey.

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