6.500% Senior Notes due 2023

Dean Foods Company · CUSIP 242370AD6. 8 verified questions on this obligation.

Verified outcome

EligibleIs the instrument a Deliverable Obligation for this credit event, on 7 checks: the issuer is the Reference Entity; the Maximum Maturity (30 years), Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics; and Not Contingent?

Basis. All 7 checks pass on the record: the issuer is the Reference Entity, the instrument meets the Maximum Maturity, Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics, and it is Not Contingent.

Source clauses

Indenture of 2015-02-25

Sections 3.01 (Terms) and 3.02 (Denominations)
Exhibit A, form of face of Note
Exhibit A, form of face of Note (payment)
Exhibit A, reverse of Note, paragraph 1 (Indenture)
Exhibit A, reverse of Note, paragraphs 5–6 (Subsidiary Guarantees; Denominations, Transfer, Exchange)

Currency: USD
Final maturity: 2023-03-15
Seniority: Senior
Governing law: Not recorded
Form: Registered
Transferable: Yes (no contractual transfer restriction)
Coupon: 6.500%

Questions and verified answers

#1 Is the instrument a Deliverable Obligation for this credit event, on 7 checks: the issuer is the Reference Entity; the Maximum Maturity (30 years), Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics; and Not Contingent?
Eligible
Indenture of 2015-02-25
#2 Does the instrument meet the Maximum Maturity characteristic (30 years)?
Yes
Indenture of 2015-02-25
- Exhibit A, form of face of Note
#3 Does the instrument meet the Specified Currency characteristic (USD, EUR, JPY, GBP, CHF, CAD)?
Yes
Indenture of 2015-02-25
- Exhibit A, form of face of Note (payment)
#4 Does the instrument meet the Not Subordinated characteristic?
Yes
Indenture of 2015-02-25
- Sections 3.01 (Terms) and 3.02 (Denominations)
- Exhibit A, reverse of Note, paragraph 1 (Indenture)
#5 Does the instrument meet the Not Bearer characteristic?
Yes
Indenture of 2015-02-25
- Exhibit A, reverse of Note, paragraphs 5–6 (Subsidiary Guarantees; Denominations, Transfer, Exchange)
#6 Is the instrument Not Contingent (principal not reducible for a reason other than payment)?
Yes
None: no clause making principal contingent was found.
#7 Does the instrument meet the Transferable characteristic?
Yes
None: no clause restricting transfer was found.
#8 Is the issuer of the instrument the Reference Entity?
Yes
No clause cited

#	Question	Verified answer	Source clauses
1	Is the instrument a Deliverable Obligation for this credit event, on 7 checks: the issuer is the Reference Entity; the Maximum Maturity (30 years), Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics; and Not Contingent? Deliverability	Eligible	Indenture of 2015-02-25 Sections 3.01 (Terms) and 3.02 (Denominations) Exhibit A, form of face of Note Exhibit A, form of face of Note (payment) Exhibit A, reverse of Note, paragraph 1 (Indenture) Exhibit A, reverse of Note, paragraphs 5–6 (Subsidiary Guarantees; Denominations, Transfer, Exchange)
2	Does the instrument meet the Maximum Maturity characteristic (30 years)? Deliverable Obligation Characteristic	Yes	Indenture of 2015-02-25 Exhibit A, form of face of Note
3	Does the instrument meet the Specified Currency characteristic (USD, EUR, JPY, GBP, CHF, CAD)? Deliverable Obligation Characteristic	Yes	Indenture of 2015-02-25 Exhibit A, form of face of Note (payment)
4	Does the instrument meet the Not Subordinated characteristic? Deliverable Obligation Characteristic	Yes	Indenture of 2015-02-25 Sections 3.01 (Terms) and 3.02 (Denominations) Exhibit A, reverse of Note, paragraph 1 (Indenture)
5	Does the instrument meet the Not Bearer characteristic? Deliverable Obligation Characteristic	Yes	Indenture of 2015-02-25 Exhibit A, reverse of Note, paragraphs 5–6 (Subsidiary Guarantees; Denominations, Transfer, Exchange)
6	Is the instrument Not Contingent (principal not reducible for a reason other than payment)? Additional check	Yes	None: no clause making principal contingent was found.
7	Does the instrument meet the Transferable characteristic? Deliverable Obligation Characteristic	Yes	None: no clause restricting transfer was found.
8	Is the issuer of the instrument the Reference Entity? Reference Entity	Yes	No clause cited

Documents

Terms come from these documents. Fields the record omits show as not stated.

DOC-1 Dean Foods 8-K filed 2019-11-12, Item 1.03 Bankruptcy (and Item 2.04), petition 2019-11-12excerpts
DOC-2 Indenture dated February 25, 2015, 6.500% Senior Notes due 2023 (EX-4.1)excerpts

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