Deal Comments
Vtylol Cloltil VG (VSOCJC), lecloll yffsl toyoof Z2/ZZ/ZZ+ (yffslt toyoof G1/G/G-), OV$1.5co 144G/Xlo V XltcCO5.5 sololl lllcix fscttlyooll GJ1 cyoi uyell tol tlfloocil iicil otolf. VC (CO/Z&S)/ Zt/ZtuG/Oyoy/BV/JS ltyoo cttff. Otsctop Ayell sooyi Aytfo Xlflo Sol (Bx 22, 2028). Ru oto tllllmll, oxl tscto tlflof llltx 5K o 5K OVJ+mtoyo. Rffslt Oiip Oiicil to (y) ox lol yo oxl fye-mtoox cltytl ctlllyoo (ol yoislyoo) oxl Aytfo Xlflo Sol (Bx 22, 2028) ol (yy) ox lol yo oxl fye-mtoox cltytl ctlllyoo (ol yoislyoo) lx Xlflo Sol oxltluolt 06/21/2012. Xlflo Solfp Bx 22, 2028 ol llltx yooltlfo cxmloo lol oxo uiif 5K (tt msioycil tu 5K) oxltluolt. Xltclosi ii, oe xoolf ii, tlosiottx / cyoi lyfisiyuyoyto ii. Vyfoyoop Vselmctsto. Vyp Jooiyfx, lelco utt Otolyoyto 5 (Voosf tu oxl Ctolf) yxyx yyii cl otlltoll cx, ol tofotsll yo ttlol yyox, Atlox iy. Xtyyoo 11/14. Vlooil 11/22. RXJfp 10% tl. XJIRVJS RXJfp9.875% tl.Ooliioyto tu Rooltlfop Jxl Rffslt mx lilo o yof usii lyftloyto ot oli ol yo ltoyo ytsmfoolf yyii cl tlisytll oto ot cx (yo lx fl, yo yxtil tt yo cto) oxl Rooltlfo Gmtsoo toxltyyfl fxllsill ot cl cyl to ox Rooltlfo Xxmloo Sol. Vll Otolyoyto 6.9 (Ooliioyto tu Rooltlfo Gmtsoof). Ru ol ot oxl leoloo oxo oxl Rooltlfo Gmtsoof cxcil to ox Rooltlfo Xxmloo Sol uiiyoo yo ox uyooyi xlt, yxlo ootlooll otoloxlt yyox lyfotycsoytof to ii toxlt tyo usolf yofotsmloof (oto yoislyoo, utt oxl ltylol tu ltsco, ox Jylt 2 Ocyoi Rofotsmloof), ol ox llyoytoi mtsoof cxcil yo ttlol yyox Otolyoyto 10.1 (Cttff sc) fxllsill utt cxmloo yo fsx uyooyi xlt lelll oxl mtsoo tu Syfotycsocil Rolmf, oxl Rffslt yyii oli oxl cxmloo (yo yxtil tt, f oxl fl mx cl, yo cto) tu fsx lelff mtsoof. Rooltlfo Gmtsoof yyii toix cl cyl (yo yxtil tt, f oxl fl mx cl, yo cto) yu ol ot oxl leoloo oxo fsx cxmloo ytsil oto sfl, yxlo ootlooll otoloxlt yyox toxlt lyfotycsoytof tu oxl fyol tlulttll ot yo Gtoyil 141(2) tu oxl OXS RI tt ox toxlt fymyit cttlyfyto tu oxl Xlilloo Xsilf oxo tl fscllo ot oxl fml iymyo, oxl Beymsm Syfotycsocil Gmtsoo (yu ox) oxlo cciycil ot oxl Rffslt ot cl lelllll (ot oxl leoloo oxl iymyooyto yo Gtoyil 141(3) tu oxl OXS RI, tt ox toxlt fymyit iymyooyto tlioll ot oxl Beymsm Syfotycsocil Gmtsoo yo oxl OXS tt oxl ZXXS, yf oxlo cciycil). Gox fsx oliioyto tu lyfotycsoytof ymctflf ot tlfotyoytof to oxl Rffslt.Ityol Styo ol Ityol Ocp Jxl Osttloo Xtyoyci Gmtsoo tu oxl Ctolf yyii cl ytyoolo ltyo yu oxl Rffsltf Otmmto Jisyox Jylt 1 cyoi toyt uiif clity 5.125% (to toftiyloll cfyf). Atiityyoo fsx tllsoyto, oxl Osttloo Xtyoyci Gmtsoo mx, o oxl Rffsltf usii lyftloyto, cl ytyoolo cf sc yu ltoyo tolyoytof tl mlo. Vll Otolyoyto 7 (Vtff Gcfttcoyto ol Xlosto ot Ayooyi Rliox). Att oxl cstctflf tu oxyf cttlyfyto, Otmmto Jisyox Jylt 1 cyoi toyt mlof oxl Otmmto Jisyox Jylt 1 cyoi tu oxl Cttsc lectlffll f cltloool tu yof otoi tyff lectfstl mtsoo (f isioll yo ttlol yyox oxl Xlilloo Xsilf ol sfyoo oxl lluyoyoyto tu oxl ctsllooyi ftcl tu toftiyloyto f lluyoll yo oxl Xlilloo Xsilf) tt fsx toxlt mloyoo oyllo ot yo (tt ox lisyliloo tt fslfftt oltm) yo oxl Xlilloo Xsilf.Rffslt Oii Scoytop Vscllo f cttlylll xltlyo, yo ctoysit ot oxl cttlyfytof tu Otolyoyto 8.8 (Otolyoytof ot tlllmcoyto, fscfoyosoyto, ltyoyto, cstxfl tt oliioyto), xlyoo oyllo ot ilff oxo uyuollo (15) ott mttl oxo oxytox (30) ilolt lxf ctytt otoyl ot oxl Ctolxtilltf ol oxl Ayfi Goloo, oxl Rffslt mx, o yof tcoyto tllllm oxl tsofoolyoo Ctolf (yo yxtil, cso oto yo cto) to oxl tlilloo Rffslt Oii Solf o oxlyt Xlllmcoyto Gmtsoo, otoloxlt yyox tsll yooltlfo (yu ox) oxltlto.Scoytoi Xlllmcoyto cx oxl Rffslt scto oxl Ssttlol tu Je Jlloo tt Ocyoi Jlloop Vscllo f cttlylll xltlyo, yo ctoysit ot oxl cttlyfytof tu Otolyoyto 8.8 (Otolyoytof ot tlllmcoyto, fscfoyosoyto, ltyoyto, cstxfl tt oliioyto), scto oxl tsttlol tu Je Jlloo tt Ocyoi Jlloo, oxl Rffslt mx, o yof tcoyto o ox oyml, tllllm oxl tsofoolyoo Ctolf (yo yxtil, cso oto yo cto) o oxlyt Xlllmcoyto Gmtsoo, otoloxlt yyox tsll yooltlfo oxltlto. Xlllmcoyto o cl mll cx oxl Rffslt lllo yu oxl Styoyoi Xtyoyci Gmtsoo tu oxl Ctolf xf cllo Ityoolo Styo ol oto xlo tlyofooll yo usii, f llftycll yo Otolyoyto 7 (Vtff Gcfttcoyto ol Xlosto ot Ayooyi Rliox). Att oxl cstctflf tu oxyf cttlyfytop Ocyoi Jlloo mlof xool yo oxl tlosiottx iffyuyoyto tu oxl Ctolf sollt oxl Xlilloo Xsilf oxo yf oto tlftocix uttlfllcil cx oxl Rffslt o oxl Rffsl Sol, ol oxo ytsil cl iyflix ot tlfsio yo tt xf tlfsioll yo oxl Ctolf clyoo usiix tt ctoyiix leislll uttm oxl Jylt 1 Ocyoi tu oxl Rffslt. Att oxl ltylol tu ltsco, tllsoyto yo oxl mtsoo tu oxl Ctolf yxyx tl tltooyll f Gllyoytoi Jylt 1 Ocyoi f tlfsio tu xool yo oxl tlosiottx fflffmloo tu oxl myoymsm mtsoo tu Otmmto Jisyox Jylt 1 cyoi oxo ytsil cl ololtoll yu oxl ctyoyci mtsoo tu oxl Ctolf yltl usiix ytyoolo ltyo, yo ttlol yyox Gtoyil 54(3) tu oxl OXX, fxii oto tofoyosol Ocyoi Jlloo.Je Jlloo mlof Je Sllsoycyiyox Jlloo, Iyoxxtilyoo Je Jlloo ol / tt Cttff-Oc Jlloo (lx f lluyoll yo ctotcxf (), (c) ol (), tlfcloyllix, tu Otolyoyto 8.4 (Scoytoi Xlllmcoyto scto oxl tsttlol tu Je Jlloo)), f oxl fl mx cl.Vscfoyosoyto ol Ityoytop Vscllo f cttlylll xltlyo, yo ctoysit ot oxl cttlyfytof tu Otolyoyto 8.8 (Otolyoytof ot tlllmcoyto, fscfoyosoyto, ltyoyto, cstxfl tt oliioyto) ol xlyoo oyllo ot ilff oxo oxytox (30) ott mttl oxo uttox-uyll (45) ilolt lxf otoyl ot oxl Ctolxtilltf ol oxl Ayfi Goloo, yu Vclyi Jlloo tt o Giyoomloo Jlloo xf tsttll ol yf tooyosyoo tt yo ttllt ot lofstl oxl luuloyllolff ol louttlcyiyox tu Otolyoyto 15 (Gfotyillomloo tu Zyi-Ro Xtylt ol Voosottx Ityol-ltyo tt Otolltfyto), oxl Rffslt mx fscfoyosol ii, cso oto ftml toix, tu oxl Ctolf tt ltx oxl oltmf tu ii, cso oto ftml toix, tu oxl Ctolf, yyoxtso ox tlisytlmloo utt oxl tofloo tt ccttli tu oxl Ctolxtilltf, ft oxo, tt f itoo f, oxlx cltml tt tlmyo Vsiyuxyoo Ctolf. Giyoomloo Jlloo yyii cl lllmll ot xll tsttll yu, f tlfsio tu xool tt mlolmloo yo oxl tlosiottx iffyuyoyto tu oxl Ctolf sollt oxl Xlilloo Xsilf o ox oyml uolt oxl Rffsl Sol, oxl Rffslt ytsil cl cil ot yffsl cyoi yofotsmloo isiyuxyoo f Gllyoytoi Jylt 1 Ocyoi oxo tooyof tol tt mttl cttlyfytof oxo tl, yo oxl tlftocil tcyoyto tu oxl Rffslt, lyuultloo yo ox moltyi tlfclo uttm oxtfl yo oxl Otolyoytof, yxyx cttlyfytof, yu oxlx xl cllo yoislll yo oxl Otolyoytof, ytsil xll ctlllooll oxl Ctolf uttm isiyuxyoo f Gllyoytoi Jylt 1 Ocyoi ymmllyolix ctytt ot fsx xool yo oxl Xlilloo Xsilf. Vclyi Jlloo mlof Je Jlloo, ol / tt Ocyoi Jlloo, f cciycil.Gfotyillolmloo tu Zyi-yo Xtylt / Voosottx Ityol-Styo tt Otolltfytop Zx oxl isyfyoyto tu Ctolf, lx Ctolxtillt fotyillolf, lcof, tofloof ol otllf ot cl ctsol cx oxl luulo tu oxl leltyfl tu oxl Zyi-yo Xtylt cx oxl Xlilloo Xlftisoyto Gsoxttyox, f cttlylll yo Otolyoyto 15 (Gfotyillomloo tu Zyi-yo Xtylt ol Voosottx Ityol-ltyo tt Otolltfyto).Iyllt tu Vlo-Suup Ct Ctolxtillt mx o ox oyml leltyfl tt iym ox Iylll Vlo-Suu Xyoxof oyofo ox tyoxo, iym tt iycyiyox oxl Rffslt, xf tt mx xll tt isytl oyofo fsx xtillt, lytloix tt yolytloix, xtyftlllt tyfyoo (ol, utt oxl ltylol tu ltsco, yoislyoo ii fsx tyoxof, iymf ol iycyiyoylf tyfyoo sollt tt yo tlioyto ot ox ol ii otllmloof tt toxlt yofotsmloof tu ox ftto tt ox oto-tootosi tciyooytof, yo lx fl yxloxlt tt oto tlioyoo ot fsx Ctol) ol lx fsx xtillt fxii cl lllmll ot xll yylll ii Iylll Vlo-Suu Xyoxof ot oxl usiilfo leoloo cltmyooll cx cciycil iy yo tlioyto ot ii fsx osi ol ctolooyi tyoxof, iymf ol iycyiyoylf.Iylll Vlo-Suu Xyoxof mlof ox ol ii tyoxof tu tt iymf tu ox xtillt tu ox Ctol utt lllsoyto, flo-tuu, olooyoo, tmclofoyto, tlolooyto tt tsooltiym tyfyoo lytloix tt yolytloix sollt tt yo tooloyto yyox ox fsx Ctol.
