redemption will take place on December 3, 2012.
First, for tax purposes TRUPS
are debt, so BHCs can deduct the interest they pay on TRUPS
from their income.
8 million of collateral in 28 CDOs resumed interest payments and repaid cumulative deferred interest on their TruPS
Hence, the plaintiffs want either TruPS
to be included in the agreement or the deal to be blocked.
5 million of collateral in eight CDOs) began deferring interest on their TruPS
in 3Q'12, the same amount seen last quarter.
Because the TruPS
are held as part of a larger pool of securities by one or more trustees or nominees, each trustee or nominee will not act until it believes it has the requisite authority from the ultimate beneficial holders who, pursuant to the terms of their individual instruments, hold the right to authorize the trustee or nominee to accept the Offer.
CDO Default and Deferral Index as of June 2012' (July 25, 2012).
The latest 'Fitch Bank TruPS
CDO Default and Deferral Tables' are available by clicking on the link or by going to 'www.
The Series E TRuPS
were issued in 2001 and are redeemable at Lincoln's option on or after November 19, 2006.
Collateral Redemptions: All of these transactions benefited from the paydowns to the most senior classes outstanding, due to TruPS
redemptions, excess spread or a combination of the two.
Holly, President and Chief Executive Officer, noted that the proceeds will likely be used to retire $15 million in TRUPS
that become callable in December 2006, after which the Company will continue to use its TRUPS
proceeds for general corporate purposes, including support for the growth and expansion of Bank of the Sierra.
NEW YORK -- Fitch believes proposed regulations could be a positive credit event for senior note holders and potentially negative for subordinate tranches in TruPS