History
ScandiNotes® in short
Between 2003 and 2007 five ScandiNotes® transactions have been launched. The ScandiNotes® issues are static true sale Collateralized Loan Obligations (CLO:s), i.e. notes issued on the basis of cash-flows from the underlying loans – the same principle as that behind mortgage bonds. The underlying loans in ScandiNotes® are subordinated term loans to financial institutions. The legal maturity is typically 8 years and the expected maturity is 5 years. All loans are floating rate loans with a step up margin of 150 basis points if they are not called after 5 years.
ScandiNotes® I to IV have been issued by Mare Baltic PCC Ltd, which is a Guernsey-based SPV with a protected cell company structure which has bankruptcy remote cells, thus isolating each cells’ creditor claims to the individual cells.
ScandiNotes® V has been issued by Scandinotes Five p.l.c., an Irish based SPV.
About Mare Baltic
Mare Baltic PCC Limited, like all Protected Cell Companies, has a special legal status which isolates the assets and liabilities of each cell from those other cells, effectively making them bankruptcy remote from each other.
The Registered and Principal office of Mare Baltic is situated at One Lefebvre Street, St Peter Port, Guernsey GY1 4JE, Channel Islands.
Management and Administration
The management and administration behind Mare Baltic PCC Ltd.:
Keith Betts
Michelle Brouard
Wayne Bulpitt
David Gough
One Lefebvre Street
St. Peter Port
Guernsey
GY1 4JE
Channel Islands
About Scandinotes Five p.l.c:
The registered office of ScandiNotes Five p.l.c. is situated at 85 Merrion Square, Dublin 2, Ireland. The telephone number of its registered office is +353-1-614-6240.
Management and Administration
The management and administration behind ScandiNotes Five p.l.c:
Neil Synnott
Sandra Richardson
85 Merrion Square
Dublin 2
Ireland
The Secretary of the Issuer is TMF Administration Services Limited of 85 Merrion Square, Dublin 2, Ireland.