Copenhagen, 2010-12-29 15:11 CET (GLOBE NEWSWIRE) -- On behalf of the above company, please be informed that the notes issued by the company on 31 October 2005 have scheduled maturity on 7 January 2011. On 7 January 2011 the tranches Class A1 Notes III, Class A2 Notes III, Class B1 Notes III, Class B2 Notes III and Class C Notes III will be redeemed at a redemption price of 100.
As there are two outstanding Credit Events, respectively Takefuji Corporation (see announcement dated 1 October 2010) and Ambac Financial Group Inc. (see announcement dated 10 November 2010), where the credit losses have yet to be determined, Class D Notes III cannot be redeemed on 7 January 2011. The Retention Amount, which represents the maximum potential credit loss, can be calculated to EUR 3,520,000.000 and the outstanding nominal balance per 29 December 2010 on Class D Notes III is EUR 3,689,400.00. Consequently, the potential credit loss can only affect the Class D Notes III.
The credit loss on Takefuji Corporation is expected to be determined on 1 February 2011 with Cash Settlement on 16 February 2011 and the credit loss on Ambac Financial Group Inc. is expected to be determined on 11 March 2011 with Cash Settlement on 28 March 2011. On 28 March 2011 the Class D Notes III is expected to be finally redeemed.
