Replies to post #75817 on Lehman Brothers Financial SA (LEHNQ)

[Jimzin]

and being subject to optional redemption in the same manner as the Preferred Securities.
Looks like CT's will be joining us Commoners and Prefs in Ye Olde OBS. Come on in boys...the water is fine!

[JERSEYHAWG]

So, where's our money?

Fritz, good to see you.

Wow, 2 old faces from the past came back to post.

Good deal.

[cottonisking]

"On February 20, 2006, Lehman Brothers UK Capital Funding III LP, a U.K. limited partnership (the “Issuer”), entered into an agreement to issue on February 22, 2006 €500,000,000 Fixed/Floating Rate Enhanced Capital Advantaged Preferred Securities (the “Preferred Securities”), each with a liquidation preference of €50,000, comprising limited partnership interests in the Issuer. The general partner of the Issuer is a wholly-owned subsidiary of Lehman Brothers Holdings Inc. (the “Company”). Lehman Brothers Holdings plc, a U.K. corporation and wholly-owned subsidiary of the Company (the “Guarantor”), has provided a subordinated guarantee of all payments (other than on liquidation) that are due and payable by the Issuer in respect of the Preferred Securities. The Preferred Securities and the guarantee were issued and sold pursuant to Regulation S under the Securities Act of 1933, as amended, and were not offered or sold within the United States or to, or for the account or benefit of, U.S. persons.


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****** This has an impact on the OBS stock ******

Item 3.03.
Material Modifications to Rights of Security Holders.


The Company has undertaken that, in the event that any distribution on the Preferred Securities is not paid in full, it will not:


(a)
declare or pay any dividend on its shares of common stock; or


(b)
repurchase or redeem any of its non-cumulative preferred stock or common stock at its option,


until the earlier of (i) such time as distributions on the Preferred Securities have been paid in full for one year and (ii) such time as an amount out of the proceeds of an issue and sale of preferred stock and/or common stock of the Company equal to the amount of distributions not paid on the Preferred Securities is paid to the holders of the Preferred Securities."

https://www.sec.gov/Archives/edgar/data/806085/000080608506000039/f06-02_248k.htm

Good stuff fritz603!