Issuer Notice Chapel 2003-I B.V.

THIS NOTICE IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION

 

If you are in any doubt as to the action you should take, you are recommended to seek your own financial, legal or other advice immediately from your stockbroker, bank manager, solicitor, accountant or other appropriately authorised independent financial adviser.

 

CHAPEL 2003-I B.V.
(the "Issuer")

Notice is hereby given with respect to holders of notes (the "Noteholders") of each of the following class(es):

euro 890,000,000 floating rate Senior Class A Asset-Backed Notes 2003 due November 2064, issue price 100 per cent. ISIN: XS 0179679328

Time of Noteholders Meeting: 13.00hrs

euro 39,000,000 floating rate Mezzanine Class B Asset-Backed Notes 2003 due November 2064, issue price 100 per cent. ISIN: XS 0179679674

Time of Noteholders Meeting: 13.15hrs

euro 23,500,00 floating rate Junior Class C Asset-Backed Notes 2003 due November 2064, issue price 100 per cent. ISIN: XS 0179679914

Time of Noteholders Meeting: 13.30hrs

euro 47,500,000 floating rate Subordinated Class D Asset-Backed Notes 2003 due November 2064, issue price 100 per cent. ISIN: XS 0181842146

Time of Noteholders Meeting: 13.45hrs

(the "Notes" and each class of Notes, a "Class of Notes" and together the "Classes of Notes" )

 

Amsterdam, 22 November 2010

 

NOTICE:

The Notes are backed by certain loan receivables originated by DSB Bank N.V. ("DSB"). DSB was declared bankrupt on 19 October 2009. The supervisory judge (rechter-commissaris) in the bankruptcy of DSB has scheduled a claims admission meeting (verificatievergadering) in this bankruptcy on 10 December 2010. The bankruptcy trustees of DSB have submitted a request to the Issuer to agree to a certain acknowledgement and confirmation.

At the request of the Issuer, Stichting Security Trustee Chapel 2003-I (the "Security Trustee") hereby convenes a meeting of Noteholders of each Class of Notes on 7 December 2010, in relation to any such Class of Notes at the time as specified under each such Class of Notes in the header hereof, during which a certain extraordinary resolution as described in a report prepared by the Security Trustee (the "Security Trustee Report") will be submitted for adoption (each a "Noteholders Meeting" and collectively, the "Noteholders Meetings"). In anticipation of the Noteholders Meetings, an informative meeting for Noteholders was convened and held on 18 November 2010.

The agenda of each of the Noteholders Meetings is as follows:

1.         Opening

2.         Introduction of submitted extraordinary resolution

3.         Voting on the submitted extraordinary resolution

4.         Any other business

5.         End of the Noteholders Meeting

 

Noteholders, their representatives or their proxyholder(s) may attend the relevant Noteholders Meeting in person and may vote at such Noteholders Meeting, subject to certain blocking instructions and voting certificates being submitted as set out in more detail below, at the following address:

Loyens & Loeff

Fred. Roeskestraat 100

1076 ED Amsterdam

The Royal Bank of Scotland N.V. ("RBS") will act as agent in respect of this announcement (the "Agent").

Noteholders also have the opportunity to authorise the Agent to cast their votes, as set out in more detail below.

Instructions to obtain the Security Trustee Report

Noteholders wishing to obtain the Security Trustee Report are requested to submit such request in writing to the Agent ( email: corporate.actions@rbs.com ).

Instructions in relation to in person attending, and voting at, the Noteholders Meetings

Noteholders, their representatives or their proxyholder(s) wishing to attend the relevant Noteholders Meeting in person and to vote at such Noteholders Meeting are requested to submit or procure to submit (i) a blocking instruction to RBS; and (ii) a voting certificate which may be obtained from the Agent; both through and in accordance with any procedures of Euroclear or Clearstream, Luxembourg by no later than 17.00 hours CET on 3 December 2010. Such blocking instruction should contain details of the relevant nominal amount and the ISIN code of each Class of Notes held and all relevant details of the Noteholder (including full contact details). Noteholder representatives or proxyholders wishing to attend the relevant Noteholders Meeting in person must produce at such Noteholders Meeting a valid voting certificate issued by the Agent relating to each such Class of Note(s) in respect of which he or she wishes to vote.

As of 8 December 2010 the relevant nominal amount of each Class of Notes, for which a blocking instruction has been submitted, will be unblocked.

Instructions in relation to authorising the Agent to attend and to vote at, the Noteholders Meetings

Noteholders, wishing to vote but not to attend a Noteholders Meeting in person are requested to submit or procure to submit a blocking instruction to RBS which is to include a voting instruction, all through and in accordance with any procedures of Euroclear or Clearstream, Luxembourg by no later than 17.00 hours CET on 3 December 2010. Such combined blocking instruction and voting instruction should contain details of the relevant nominal amount and the ISIN code of each Class of Notes held, all relevant details of the Noteholder (including full contact details) and the appointment of RBS as proxyholder to attend and vote at each Noteholder Meeting in accordance with the voting instruction received from such Noteholder.

As of 8 December 2010 the relevant nominal amount of each Class of Notes, for which a blocking instruction has been submitted, will be unblocked.

For assistance with procuring attendance at the meeting, obtaining voting certificates and/or submitting voting instructions, please contact the Agent:

The Royal Bank of Scotland N.V.

Tel. +31 20 464 3707

Fax: + 31 20 464 1707

Email: corporate.actions@rbs.com

 

This notice constitutes the formal announcement of the Noteholders Meetings. Neither Euroclear Bank S.A./N.V., Clearstream Banking société anonyme, the Issuer, the Security Trustee or Royal Bank of Scotland N.V. accept any liability whatsoever for any act or omission to act in relation to the foregoing.

 

 

 

                       

ANT Trust & Corporate Services N.V.

Director

Claude Debussylaan 24

1082 MD Amsterdam

 

 

Important Notice Chapel 2003-1 B.V.