Holders of the Following Notes will be Entitled to Vote at the Meeting:
4.804% Credit Card Receivables-Backed Class A Notes, Series 2004-2
5.434% Credit Card Receivables-Backed Class B Notes, Series 2004-2
5.884% Credit Card Receivables-Backed Class C Notes, Series 2004-2
5.234% Credit Card Receivables-Backed Class A Notes, Series 2008-1
6.084% Credit Card Receivables-Backed Class B Notes, Series 2008-1
7.143% Credit Card Receivables-Backed Class C Notes, Series 2008-1
5.449% Credit Card Receivables-Backed Class A Notes, Series 2008-2
6.439% Credit Card Receivables-Backed Class B Notes, Series 2008-2
7.659% Credit Card Receivables-Backed Class C Notes, Series 2008-2
Credit Card Receivables-Backed Enhancement Notes
TORONTO, July 19 /CNW/ - Citi Cards Canada Inc. ("Citi Cards"), as administrative agent of Broadway Credit Card Trust ("Broadway"), today advises that a meeting of the holders of the credit card receivables-backed notes of Broadway listed above is scheduled to be held at 10:00 a.m. (Toronto time) on Thursday, August 12, 2010. The record date for the meeting is July 13, 2010.
A notice of meeting and information circular will be mailed to registered and beneficial holders of the applicable notes. A copy of the meeting materials will be made available on SEDAR at www.sedar.com.
On June 14, 2010, Broadway and Citi Cards announced that Citi Cards has agreed to sell a substantial portion of the assets comprising its Canadian MasterCard credit card business to Canadian Imperial Bank of Commerce ("CIBC"). Citi Cards is the administrative agent of Broadway and the seller and servicer under the securitization programme with Broadway. The meeting is being convened by CIBC Mellon Trust Company, as indenture trustee of the notes, for the purpose of obtaining approvals and consents from applicable noteholders in order to give effect to the transactions and other matters described in the meeting materials. The matters to be considered for approval and consent include the assignment to CIBC of Citi Cards' rights and obligations under the securitization programme, certain amendments to the programme agreements and the removal of certain charged-off, delinquent and low credit score accounts and related receivables from the pool of securitized receivables. These and other matters are described in detail in the meeting materials.
SOURCE BROADWAY CREDIT CARD TRUST
For further information: For further information: Hannah Sorscher, Chief Financial Officer, Citi Cards Canada Inc., administrative agent of Broadway Credit Card Trust, 905.755.3123