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| ===The Issuer=== | | ===The Issuer=== |
| *[[Orphan ownership]] and the [[declaration of trust]] | | *[[Orphan ownership]] and the [[declaration of trust]] |
| ===Terms and Conditions===
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| '''{{repackprov|Issue}}''' |
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| '''{{repackprov|Covenant to pay}}''' |
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| '''{{repackprov|Separate Series}}''' |
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| '''{{repackprov|Form of Notes}}''' | ''{{repackprov|Global Note}}s · {{repackprov|Definitive Note}}s · {{repackprov|Registered Note}}s · {{repackprov|Bearer Note}}s ''|
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| '''{{repackprov|Tax}}''' |
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| '''{{repackprov|Security}}''' | ''{{repackprov|Charge}} · {{repackprov|Assignment by way of security}} · {{repackprov|Continuing security}} · {{repackprov|Trustee’s liability}} · {{repackprov|Issuer’s rights}} · {{repackprov|Enforcement}} ''|
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| {{repackprov|Application of proceeds}} | {{repackprov|Pre-enforcement}} · {{repackprov|Post-enforcement}} ''|
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| {{repackprov|Covenants and representations}} |
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| {{repackprov|Trustee’s remuneration and indemnification}} | {{repackprov|Remuneration}} · {{repackprov|Expenses}} · {{repackprov|Indemnity}}
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| {{repackprov|Trustee Act provi
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Revision as of 16:24, 1 March 2023
 A repack programme yesterday
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Top Trumps®Financial Weapons of Mass Destruction®
Repack Programme
“It’s exotic, it’s Caribbean, it’s transformative — but somehow just not that exciting any more.”
| Docs |
Propectus, agreements, supplements, swaps, global notes, side letters galore. Most exciting part: limited recourse. Yes: that exciting. |
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| Amendability |
Bugger all, because of the trust structure. What? You think the Trustee’s going to take a view? |
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| Collateral |
Fully funded. Note is fully collateralised. |
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| Transferability |
In theory unlimited: cleared, dematerialised bearer notes. In practice? Forget about it. No-one wants your home-made espievie notes. |
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| Leverage |
Not really. |
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| Fright-o-meter |
CAYMAN ISLANDS DUDE! In reality, depends what you put in it, but mostly tame. |
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A starter kit for all you’d like to know about repackaging.
Index: Click ᐅ to expand:
The concepts
The Issuer
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