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EXHIBIT 25.1
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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)_
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IBJ SCHRODER BANK & TRUST COMPANY
(Exact name of trustee as specified in its charter)
New York 13-5375195
(Jurisdiction of incorporation (I.R.S. employer
or organization if not a U.S. national bank) identification No.)
One State Street, New York, New York 10004
(Address of principal executive offices) (Zip code)
JAMES P. FREEMAN
IBJ SCHRODER BANK & TRUST COMPANY
One State Street
New York, New York 10004
(212) 858-2000
(Name, address and telephone number of agent for service)
SPANISH BROADCASTING SYSTEM, INC.
(Exact names of obligor as specified in its charter)
Delaware 13-3827791
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification No.)
26 West 56th Street
New York, NY 10019
2
(Address of principal executive offices) (Zip code)
11% Senior Notes due 2004, Series B
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(Title of 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.
New York State Banking Department, Two Rector Street, New York,
New York
Federal Deposit Insurance Corporation, Washington, D.C.
Federal Reserve Bank of New York Second District, 33 Liberty
Street, New York, New York
(b) Whether it is authorized to exercise corporate trust powers.
Yes
Item 2. Affiliations with the Obligor.
If the obligor is an affiliate of the trustee, describe each such
affiliation.
The obligor is not an affiliate of the trustee.
Item 13. Defaults by the Obligor.
(a) State whether there is or has been a default with respect to the
securities under this indenture. Explain the nature of any such
default.
None
(b) If the trustee is a trustee under another indenture under which any
other securities, or certificates of interest or participation in
any other securities, of the obligors are outstanding, or is
trustee for more than one outstanding series of securities under
the indenture, state whether there has been a default under any
such indenture or
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series, identify the indenture or series affected, and explain
the nature of any such default.
None
Item 16. List of exhibits.
List below all exhibits filed as part of this statement of
eligibility.
*1. A copy of the Charter of IBJ Schroder Bank & Trust Company as
amended to date. (See Exhibit 1A to Form T-1, Securities and
Exchange Commission File No. 22-18460).
*2. A copy of the Certificate of Authority of the trustee to Commence
Business (Included in Exhibit 1 above).
*3. A copy of the Authorization of the trustee to exercise corporate
trust powers, as amended to date (See Exhibit 4 to Form T-1,
Securities and Exchange Commission File No. 22-19146).
*4. A copy of the existing By-Laws of the trustee, as amended to date
(See Exhibit 4 to Form T-1, Securities and Exchange Commission
File No. 22-19146).
5. Not Applicable
6. The consent of United States institutional trustee required by
Section 321(b) of the Act.
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.
* The Exhibits thus designated are incorporated herein by reference as
exhibits hereto. Following the description of such Exhibits is a
reference to the copy of the Exhibit heretofore filed with the
Securities and Exchange Commission, to which there have been no
amendments or changes.
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NOTE
In answering any item in this Statement of Eligibility which relates to matters
peculiarly within the knowledge of the obligor and its directors or officers,
the trustee has relied upon information furnished to it by the obligor.
Inasmuch as this Form T-1 is filed prior to the ascertainment by the trustee of
all facts on which to base responsive answers to Item 2, the answer to said Item
is based on incomplete information.
Item 2, may, however, be considered as correct unless amended by an amendment to
this Form T-1.
Pursuant to General Instruction B, the trustee has responded to Items 1, 2a and
16 of this form since to the best knowledge of the trustee as indicated in Item
13, the obligor is not in default under any indenture under which the applicant
is trustee.
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SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of
1939, the trustee, IBJ Schroder Bank & Trust Company, a corporation organized
and existing under the laws of the State of New York, has duly caused this
statement of eligibility & qualification to be signed on its behalf by the
undersigned, thereunto duly authorized, all in the City of New York, and State
of New York, on the 25th day of April, 1997.
IBJ SCHRODER BANK & TRUST COMPANY
By: /s/ James P. Freeman
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James P. Freeman
Assistant Vice President
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EXHIBIT 6
CONSENT OF TRUSTEE
Pursuant to the requirements of Section 321(b) of the Trust
Indenture Act of 1939, as amended, in connection with the issuance by Spanish
Broadcasting System, Inc. of its 11% Senior Notes due 2004, Series B, we hereby
consent that reports of examinations by Federal, State, Territorial, or District
authorities may be furnished by such authorities to the Securities and Exchange
Commission upon request therefor.
IBJ SCHRODER BANK & TRUST COMPANY
By: /s/ James P. Freeman
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James P. Freeman
Assistant Vice President
Dated: April 25, 1997
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EXHIBIT 7
CONSOLIDATED REPORT OF CONDITION OF
IBJ SCHRODER BANK & TRUST COMPANY
OF NEW YORK, NEW YORK
AND FOREIGN AND DOMESTIC SUBSIDIARIES
REPORT AS OF DECEMBER 31, 1996
DOLLAR AMOUNTS
IN THOUSANDS
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ASSETS
Cash and balance due from depository institutions:
Noninterest-bearing balances and currency and coin.......................................... $ 32,466
Interest-bearing balances................................................................... $ 347,310
Securities: Held-to-maturity securities.................................................. $ 175,628
Available-for-sale securities................................................ $ 37,536
Federal funds sold and securities purchased under agreements to resell in
domestic offices of the Bank and of its edge and agreement subsidiaries and in
IBFS:
Federal funds sold.......................................................................... $ 13,900
Securities purchased under agreements to resell............................................. $ 4,524
Loans and lease financing receivables:
Loans and leases, net of unearned income $ 1,844,295
Less: Allowance for loan and lease losses $ 57,261
Less: Allocated transfer risk reserve $ -0-
Loans and leases, net of unearned income, allowance, and reserve............................ $1,787,034
Trading assets held in trading accounts........................................................ $ 403
Premises and fixed assets (including capitalized leases)....................................... $ 4,123
Other real estate owned........................................................................ $ 202
Investments in unconsolidated subsidiaries and associated companies............................ $ -0-
Customers' liability to this bank on acceptances outstanding................................... $ 463
Intangible assets.............................................................................. $ -0-
Other assets................................................................................... $ 87,430
TOTAL ASSETS................................................................................... $2,491,019
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LIABILITIES
Deposits:
In domestic offices........................................................................ $ 792,944
Noninterest-bearing.................................................... $ 228,711
Interest-bearing....................................................... $ 564,233
In foreign offices, Edge and Agreement subsidiaries, and IBFs.............................. $1,125,928
Noninterest-bearing.................................................... $ 20,348
Interest-bearing....................................................... $ 1,105,580
Federal funds purchased and securities sold under Agreements to repurchase in
domestic offices of the bank and of its Edge and Agreement subsidiaries, and in
IBFs:
Federal Funds purchased.................................................................... $ 185,300
Securities sold under agreements to repurchase............................................. $ -0-
Demand notes issued to the U.S. Treasure....................................................... $ 5,098
Trading Liabilities............................................................................ $ 83
Other borrowed money:
With a remaining maturity of one year or less............................................... $ 74,686
With a remaining maturity of more than one year............................................. $ 4,763
Mortgage indebtedness and obligations under capitalized leases................................. $ -0-
Bank's liability on acceptances executed and outstanding....................................... $ 463
Subordinated notes and debentures.............................................................. $ -0-
Other liabilities.............................................................................. $ 82,930
TOTAL LIABILITIES.............................................................................. $2,272,195
Limited-life preferred stock and related surplus $ -0-
EQUITY CAPITAL
Perpetual preferred stock and related surplus.................................................. $ -0-
Common stock................................................................................... $ 29,649
Surplus (exclude all surplus related to preferred stock)....................................... $ 217,008
Undivided profits and capital reserves......................................................... $ (27,849)
Net unrealized gains (losses) on available-for-sale securities................................. $ 16
Cumulative foreign currency translation adjustments............................................ $ -0-
TOTAL EQUITY CAPITAL........................................................................... $ 218,824
TOTAL LIABILITIES AND EQUITY CAPITAL........................................................... $2,491,019