GE Dealer Floorplan Master Note Trust Asset Backed Notes Terms Agreement (Series 2014-1) among CDF Funding, Inc., General Electric Capital Corporation, and Underwriters

Contract Categories: Business Finance › Underwriting Agreements
Summary

This agreement, dated July 16, 2014, is between CDF Funding, Inc., General Electric Capital Corporation, and several underwriters, including RBS Securities Inc., Mitsubishi UFJ Securities (USA), Inc., Santander Investment Securities Inc., and Mischler Financial Group, Inc. It sets the terms for the sale and purchase of $675 million in Series 2014-1 asset-backed notes issued by GE Dealer Floorplan Master Note Trust. The agreement outlines the purchase price, underwriting discounts, and the allocation of notes among the underwriters, with a maturity date of July 22, 2019.

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EX-1.2 3 v384091_ex1-2.htm EXHIBIT 1.2

 

Exhibit 1.2

 

EXECUTION COPY

GE DEALER FLOORPLAN MASTER NOTE TRUST
ASSET BACKED NOTES

 

TERMS AGREEMENT
(SERIES 2014-1)

 

Dated: July 16, 2014

 

To:CDF Funding, Inc.

General Electric Capital Corporation

 

Re:

Underwriting Agreement, dated July 16, 2014, among CDF Funding, Inc.,

General Electric Capital Corporation and the Representatives referred to therein

 

1.Offered Notes.

 

The notes described below in this Section 1 are the “Offered Notes” for the purpose of this Terms Agreement and for purposes of the above-referenced Underwriting Agreement (the “Underwriting Agreement”). The Underwriting Agreement is incorporated herein and made a part hereof. The Offered Notes are the Series 2014-1 Notes that will be issued by GE Dealer Floorplan Master Note Trust.

 

    Principal      Final
Class   Amount   Interest Rate  Maturity Date
            
 A   $675,000,000   One month LIBOR plus 0.38% per year  July 22, 2019

  

2.Underwriters

 

The Underwriters named below are the “Underwriters” for the purpose of this Terms Agreement and for the Underwriting Agreement.

 

  Class A Underwriters  
  RBS Securities Inc.  
     
  Mitsubishi UFJ Securities (USA), Inc.  
     
  Santander Investment Securities Inc.  
     
  Mischler Financial Group, Inc.  

 

  GEDFMNT 2014-1: Terms Agreement
 

  

3.Underwriting Allotment

 

Underwriting Allotment  Class A 
RBS Securities Inc.  $270,000,000 
      
Mitsubishi UFJ Securities (USA), Inc.  $270,000,000 
      
Santander Investment Securities Inc.  $67,500,000 
      
Mischler Financial Group, Inc.  $67,500,000 
      
Total Amount  $675,000,000 

 

3.Purchase Price, Discounts and Concessions

 

   Class A 
Gross Purchase Price   100%
      
Underwriting Discount   0.250%
      
Net Purchase Price   99.750%
      
Maximum Dealer Selling Concessions   0.150%
      
Maximum Dealer Reallowance Discounts   0.075%

 

4.Date of Sale

 

July 16, 2014 (the date the first Contract of Sale was entered into as designated by the Representatives).

 

 2GEDFMNT 2014-1: Terms Agreement
 

  

The Underwriters agree, severally and not jointly, to purchase the Offered Notes subject to the terms and provisions of this Terms Agreement and the Underwriting Agreement.

 

  RBS SECURITIES INC.,
  for itself and as a Representative
   
  By: /s/ Carl Spalding
  Name: Carl Spalding
  Title: Director
     
  MITSUBISHI UFJ SECURITIES (USA), INC.,
  for itself and as a Representative
     
  By: /s/ Tricia Hazelwood
  Name: Tricia Hazelwood
  Title: Tricia Hazelwood

 

 S-1GEDFMNT 2014-1: Terms Agreement
 

 

Accepted and Agreed:

 

CDF FUNDING, INC.

 

By: /s/ John E. Peak  
Name: John E. Peak  
Title: Vice President  
     
GENERAL ELECTRIC CAPITAL CORPORATION  
     
By: /s/ Peter M. Graham  
Name: Peter M. Graham  
Title: Authorized Signatory  

 

 S-2GEDFMNT 2014-1: Terms Agreement