Tuesday, July 02, 2013 9:17:45 PM
HOW ARE THE PREFERRED SECURITIES GUARANTEED?
"...The Guarantee, doesnt cover payments when the trust doesnt have sufficient funds to make payments on the preferred securities.In other words, if Holdings doenst make a payment on the subordinated debentures, the trust will not have sufficient funds to make payments on the preferred securitiies, and the guarantee will not obligate Holdingd to make those payments on the trust s behalf.In addition, Holdings obligations under the guarantee are subordinate to its obligations under all of its liabilities"
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