BQ09 Qnb Fin 26

    RNS Number : 5069I
  Beta Finance Corporation
  19 November 2008
   

    To:    RNS
             London Stock Exchange
            10 Paternoster Square
             London EC4M 7LS


    Date:    19 November 2008


    BETA FINANCE CORPORATION


    Beta Finance Corporation ("Beta") transitioned into the operating state defined as Defeasance on 19 November 2008

    This follows a transaction, whereby Citibank, N.A. agreed with Beta on 18 November 2008 to purchase (at their current values) all
remaining assets and assume all derivative contracts held by Beta. 

    As part of this transaction Citi has agreed to ensure that Beta will have sufficient funds to repay its senior debt /liabilities and
provide for the obligations to other secured creditors as they fall due.



    Citibank International plc
    (as Investment Manager and Group Funding Manager of Beta Finance Corporation)


This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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