A Class Notes

Minimum Investment

$500,000

Key Covenants

All noteholders are afforded protection through the application of the covenants
set out in the Series Notice.

 

Due to the relative ranking of the class of notes and application of the Payment Waterfall, a key covenant affording protection to A Class Noteholders is:

 

  • Insured Assets of the Fund must => outstanding balance of A Class Notes.
  • Balance of subordinated B Class and/or C Class Notes => 10% outstanding balance A Class Notes.
  • Balance of subordinated C Class Notes => 10% outstanding balance B Class Notes.
  • Access to a Loss Reserve equal to at least 2 x Expected Loss.

 

A Loss Reserve is maintained by the Trustee.

Ranking

Assets of the Fund are applied in accordance with the Waterfall provisions defined in the Series Notice.

 

Rank ahead of any other obligation of the Fund.

Rate of Return

7.00% per annum, payable monthly on 10th business day of the month.

Capitalised terms are defined in the Series Notice of the Fund, please contact info@oceana-funds.com to obtain a copy.