Exhibit 25.1

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM T-1

 

 

STATEMENT OF ELIGIBILITY

UNDER THE TRUST INDENTURE ACT OF 1939 OF A

CORPORATION DESIGNATED TO ACT AS TRUSTEE

 

 

 

  ¨ CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE
  PURSUANT TO SECTION 305(b) (2)

 

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

(Exact name of trustee as specified in its charter)

 

 

 

A National Banking Association   94-1347393

(Jurisdiction of incorporation or

organization if not a U.S. national bank)

 

(I.R.S. Employer

Identification No.)

101 North Phillips Avenue

Sioux Falls, South Dakota

  57104

(Address of principal executive offices)

  (Zip code)

Wells Fargo & Company

Law Department, Trust Section

MAC N9305-175

Sixth Street and Marquette Avenue, 17th Floor

Minneapolis, Minnesota 55479

(612) 667-4608

(Name, address and telephone number of agent for service)

 

 

NEWCASTLE INVESTMENT CORP.

(Exact name of obligor as specified in its charter)

 

 

 

Maryland   81-0559116

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. Employer

Identification No.)

1345 Avenue of the Americas

New York, New York

  10105

(Address of principal executive offices)

  (Zip code)

 

 

Debt Securities

(Title of the indenture securities)

 

 

 


Item 1. General Information. Furnish the following information as to the trustee:

 

  (a) Name and address of each examining or supervising authority to which it is subject.

Comptroller of the Currency

Treasury Department

Washington, D.C.

Federal Deposit Insurance Corporation

Washington, D.C.

Federal Reserve Bank of San Francisco

San Francisco, California 94120

 

  (b) Whether it is authorized to exercise corporate trust powers.

The trustee is authorized to exercise corporate trust powers.

Item 2. Affiliations with the Obligor. If the obligor is an affiliate of the trustee, describe each such affiliation.

None with respect to the trustee.

No responses are included for Items 3-14 of this Form T-1 because the obligor is not in default as provided under Item 13.

Item 15. Foreign Trustee. Not applicable.

Item 16. List of Exhibits. List below all exhibits filed as a part of this Statement of Eligibility.

 

 

Exhibit 1.

   A copy of the Articles of Association of the trustee now in effect.*
 

Exhibit 2.

   A copy of the Comptroller of the Currency Certificate of Corporate Existence and Fiduciary Powers for Wells Fargo Bank, National Association, dated February 4, 2004.**
 

Exhibit 3.

   See Exhibit 2
 

Exhibit 4.

   Copy of By-laws of the trustee as now in effect.***
 

Exhibit 5.

   Not applicable.
 

Exhibit 6.

   The consent of the trustee required by Section 321(b) of the Act.
 

Exhibit 7.

   A copy of the latest report of condition of the trustee published pursuant to law or the requirements of its supervising or examining authority.
 

Exhibit 8.

   Not applicable.
 

Exhibit 9.

   Not applicable.

 

* Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form S-4 dated December 30, 2005 of file number 333-130784-06.

 

** Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form T-3 dated March 3, 2004 of file number 022-28721.

 

*** Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form S-4 dated May 26, 2005 of file number 333-125274.


SIGNATURE

Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the trustee, Wells Fargo Bank, National Association, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Minneapolis and State of Minnesota on the 11th day of June, 2011.

 

WELLS FARGO BANK, NATIONAL ASSOCIATION
/s/ Richard Prokosch

Richard Prokosch

Vice President


EXHIBIT 7

Consolidated Report of Condition of

Wells Fargo Bank National Association

of 101 North Phillips Avenue, Sioux Falls, SD 57104

And Foreign and Domestic Subsidiaries,

at the close of business March 31, 2012, filed in accordance with 12 U.S.C. §161 for National Banks.

 

             Dollar Amounts
In Millions
 

ASSETS

     

Cash and balances due from depository institutions:

     

Noninterest-bearing balances and currency and coin

      $ 17,216   

Interest-bearing balances

        49,902   

Securities:

     

Held-to-maturity securities

        0   

Available-for-sale securities

        204,705   

Federal funds sold and securities purchased under agreements to resell:

     

Federal funds sold in domestic offices

        834   

Securities purchased under agreements to resell

        24,346   

Loans and lease financing receivables:

     

Loans and leases held for sale

        28,995   

Loans and leases, net of unearned income

     710,355      

LESS: Allowance for loan and lease losses

     15,934      

Loans and leases, net of unearned income and allowance

        694,421   

Trading Assets

        50,280   

Premises and fixed assets (including capitalized leases)

        7,788   

Other real estate owned

        4,449   

Investments in unconsolidated subsidiaries and associated companies

        579   

Direct and indirect investments in real estate ventures

        106   

Intangible assets

     

Goodwill

        21,276   

Other intangible assets

        23,076   

Other assets

        53,844   
     

 

 

 

Total assets

      $ 1,181,817   
     

 

 

 

LIABILITIES

     

Deposits:

     

In domestic offices

      $ 852,986   

Noninterest-bearing

     223,944      

Interest-bearing

     629,042      

In foreign offices, Edge and Agreement subsidiaries, and IBFs

        66,906   

Noninterest-bearing

     2,118      

Interest-bearing

     64,788      

Federal funds purchased and securities sold under agreements to repurchase:

     

Federal funds purchased in domestic offices

        10,453   

Securities sold under agreements to repurchase

        11,665   


      Dollar Amounts
In Millions
 

Trading liabilities

     20,434   

Other borrowed money

  

(includes mortgage indebtedness and obligations under capitalized leases)

     38,145   

Subordinated notes and debentures

     18,384   

Other liabilities

     37,006   
  

 

 

 

Total liabilities

   $ 1,055,979   

EQUITY CAPITAL

  

Perpetual preferred stock and related surplus

     0   

Common stock

     519   

Surplus (exclude all surplus related to preferred stock)

     99,458   

Retained earnings

     19,264   

Accumulated other comprehensive income

     5,478   

Other equity capital components

     0   
  

 

 

 

Total bank equity capital

     124,719   

Noncontrolling (minority) interests in consolidated subsidiaries

     1,119   
  

 

 

 

Total equity capital

     125,838   
  

 

 

 

Total liabilities, and equity capital

   $ 1,181,817   
  

 

 

 

I, Timothy J. Sloan, EVP & CFO of the above-named bank do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true to the best of my knowledge

and belief.

Timothy J. Sloan

EVP & CFO

We, the undersigned directors, attest to the correctness of this Report of Condition and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate

Federal regulatory authority and is true and correct.

 

John Stumpf

   Directors

Avid Modjtabai

  

Michael Loughlin