MONTREAL, July 4 /CNW Telbec/ - Foundation Trust (the "Trust") is pleased
to announce that it received on June 17, 2008 a principal repayment of
$22,003,972 on the outstanding Replacement Series A Notes of the Trust.
Further to the May 9, 2008 restructuring, Replacement Series A Notes (the
"Notes") were issued by the Trust in replacement of its outstanding Class A
Series A and Class A Series E Notes. The face amount of the Notes was
$114,075,879 and following the June principal repayment, the face amount of
the Notes is currently $71,913,144. The Notes bear interest to maturity at an
annual interest equal to one-month CDOR plus 0.7475% (being an interest rate
of 3.9089% for the month of July 2008). CDOR is reset at the beginning of each
calendar month. Interest is paid on the Notes together with the Trust's share
of the principal distributions received on the underlying portfolio of auto
leases. The Notes are amortized on a monthly basis and will come to maturity
on September 17, 2010 or such earlier date to the extent such Notes are repaid
earlier. The Notes have not been rated.
About the Trust
The assets of the Trust are traditionally-originated ABS/MBS.
For further information:
For further information: Mathieu Lafleur-Ayotte, (514) 879-3302; Gordon
Thompson, (416) 363-1561, www.mmcapitalcorp.com