TORONTO, Sept. 29 /CNW/ - CFI Trust (the "Trust"), announced today that
it has issued $67,500,000 principal amount of Floating Rate Receivables-Backed
Notes, Series 2008-1, Class A-1 (the "2008-1 Notes"). As additional credit
enhancement for the 2008-1 Notes, the Trust also issued $2,025,000 principal
amount of Receivables-Backed Notes, Series 2005-1, Class B. The 2008-1 Notes
were issued under the terms of the Series 2008-1 supplement to the Trust's
trust indenture, mature on September 15, 2013 and are rated AAA by DBRS.
The 2008-1 Notes were issued on a private placement basis to holders of
an aggregate principal amount of $67,500,000 Floating Rate Receivables-Backed
Notes, Series 2005-1 (the "2005-1A Notes") and $2,025,000 principal amount of
Receivables-Backed Notes, Series 2005-1, Class B (the "2005-1B Notes")
(collectively, the "2005-1 Notes") who surrendered their 2005-1 Notes in
exchange for an equal principal amount of 2008-1 Notes. Following completion
of this transaction, an aggregate of $132,500,000 principal amount of 2005-1A
Notes remain outstanding and an aggregate of $3,975,000 principal amount of
2005-1B Notes remain outstanding. The 2005-1 Notes were issued in August 2005
under the terms of the Series 2005-1 supplement to its trust indenture (the
"Series 2005-1 Supplement") and have a final maturity date of September 15,
The 2008-1 Notes will not be listed on any securities or stock exchange.
The offering is a new issue of securities with no established trading market.
This news release shall not constitute an offer to sell or a solicitation of
an offer to buy the 2008-1 Notes in the United States. The 2008-1 Notes have
not been and will not be registered under U.S. securities laws and may not be
offered or sold in the United States or to U.S. persons.
About CFI Trust
CFI Trust is a special-purpose vehicle administered by CFI Leasing
Limited, a wholly-owned subsidiary of Corpfinance International Limited
("Corpfinance"). CFI Trust has issued, from time to time, securities backed by
the Trust's assets, including a revolving portfolio of leases ("Leases") and
secured loans ("Secured Loans") relating to passenger automobiles, sport
utility vehicles, mini-vans and pick-up and light-duty trucks, which interests
are acquired from manufacturer-franchised automobile dealers and independent
leasing companies who have entered into master concurrent lease agreements
and/or secured loan purchase agreements with the Trust.
For further information:
For further information: Kevin Andrews, President, CFI Leasing Limited