Talisman-4 Finance misses July 22 principal payment on class A notes

By Caroline Salls

Pittsburgh, Aug. 25 – Talisman-4 Finance plc did not pay the principal due July 22 on its class A commercial mortgage-backed floating-rate notes due 2015, according to a news release.

The principal and accrued interest became due and payable on the July 22 final maturity date, and an event of default occurred.

The notes trustee can deliver an acceleration notice to Talisman if requested by the holders of at least 25% of the principal outstanding amount or if directed by an extraordinary resolution of the most senior class of noteholders then outstanding.

According to the release, the trustee currently does not intend to accelerate the notes unless the required percentage of noteholders requests acceleration.

Talisman is a Dublin-based financial company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.