Clifton Street gets votes to amend credit-linked floaters for G series

By Susanna Moon

Chicago, March 13 - Clifton Street Finance Ltd. said holders approved amending its €15 million class G floaters to modify the portfolio credit swap provisions.

The meeting was held in London on March 5, adjourned from Feb. 16 due to lack of a quorum.

Holders voted to amend eight series of floating-rate credit-linked notes at meetings on Feb. 16.

As previously reported, holders approved the auction valuation modifications that take effect if the International Swaps and Derivatives Association, Inc. announces that the Credit Derivatives Determinations Committee decides that an auction will be held for a credit event.

The following series of notes are also covered by the changes:

• €53.25 million class A1 floating-rate credit-linked notes;

• €48.75 million class A2 floating-rate credit-linked notes;

• €37.5 million class B floating-rate credit-linked notes;

• €32 million class C floating-rate credit-linked notes;

• €30 million class D floating-rate credit-linked notes;

• €17.5 million class E floating-rate credit-linked notes;

• €15 million class F floating-rate credit-linked notes; and

• €12 million class H floating-rate credit-linked notes.

BNY Mellon Corporate Trustee Services Ltd. is the trustee.

The issuer is a limited liability company incorporated in Jersey.

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