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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THE BANK OF NEW YORK
(Exact Name of Trustee as Specified in its Charter)
NEW YORK 13-5160382
(State of Incorporation (I.R.S. Employer
if not a National Bank) Identification No.)
48 WALL STREET, NEW YORK, N.Y. 10286
(Address of Principal Executive Offices) (Zip Code)
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TEXON INTERNATIONAL plc
(Exact Name of Obligor as Specified in its Charter)
ENGLAND AND WALES NONE
(State or other Jurisdiction of (I.R.S. Employer
Incorporation or Organization) Identification No.)
100 ROSS WALK
LEICESTER, U.K.
LE4 5BX
(Address of Principal Executive Offices) (Zip Code)
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10% SERIES A SENIOR NOTES DUE 2008
(TITLE OF THE INDENTURE SECURITIES)
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1. GENERAL INFORMATION. Furnish the following information as to the Trustee:
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(a) Name and address of each examining or supervising authority to which
it is subject.
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Name Address
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Superintendent of Banks of the 2 Rector Street,
State of New York New York, NY 10006 and
Albany, NY 12203
Federal Reserve Bank of New York 33 Liberty Plaza, New
York, NY 10045
Federal Deposit Insurance Corporation Washington, D.C. 20549
New York Clearing House New York, New York
Association
(b) Whether it is authorized to exercise corporate trust powers.
Yes.
2. AFFILIATIONS WITH OBLIGOR.
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If the obligor is an affiliate of the trustee, describe each such
affiliation.
16. LIST OF EXHIBITS.
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Exhibits identified in parentheses below, on file with the Commission, are
incorporated herein by reference as an exhibit hereto, pursuant to Rule 7a-
29 under the Trust Indenture Act of 1939 and Rule 24 of the Commission's
Rules of Practice.
1. A copy of the Organization Certificate of The Bank of New York
(formerly Irving Trust Company) as now in effect, which contains
the authority to commence business and a grant of powers to
exercise corporate trust powers. (Exhibit 1 to Amendment No. 1
to Form T-1, filed with Registration Statement No. 33-6215,
Exhibits 1a and 1b to Form T-1 filed with Registration Statement
No. 33-21672 and Exhibit 1 to Form T-1 filed with Registration
Statement No. 33-29637.)
4. A copy of the existing By-Laws of the Trustee. (Exhibit 4 to
Form T-1 filed with Registration Statement No. 33-31019.)
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6. The consent of the 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 to the requirements of its supervising or
examining authority.
NOTE
Inasmuch as this Form T-1 is being filed prior to the ascertainment by the
Trustee of all facts on which to based a responsive answer 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.
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939 the
Trustee, The Bank of New York, a corporation organized and existing under the
laws of the State of New York, has duly caused this statement of eligibility 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 19th day of May, 1998.
THE BANK OF NEW YORK
By /s/ Ming J. Shiang
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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 in connection with the proposed issue of 10% Series A Senior Notes due
2008 by Texon International plc, 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.
THE BANK OF NEW YORK
By /s/ Ming J. Shiang
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Assistant Vice President
Dated: May 19, 1998
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a member of the Federal Reserve System, at the close of business December 31,
1997, published in accordance with a call made by the Federal Reserve Bank of
this District pursuant to the provisions of the Federal Reserve Act.
Dollar Amount
ASSETS in Thousands
Cash and balances due from depo-
sitory institutions:
Noninterest-bearing balances and
currency and coin.................. $ 5,742,986
Interest-bearing balances......... 1,342,769
Securities:
Held-to-maturity securities....... 1,099,736
Available-for-sale securities..... 3,882,686
Federal funds sold and Securities
purchased under agreements to
resell....................... 2,568,530
Loans and lease financing
receivables:
Loans and leases, net of unearned
income...............35,019,608
LESS: Allowance for loan and
lease losses............627,350
LESS: Allocated transfer risk
reserve................................ 0
Loans and leases, net of unearned
income, allowance, and reserve......... 34,392,258
Assets held in trading accounts........... 2,521,451
Premises and fixed assets (including)
capitalized leases).................... 659,209
Other real estate owned.................. 11,992
Investments in unconsolidated sub-
sidiaries and associated
companies.............................. 225,253
Customers liability to this bank on
acceptances outstanding................ 1,187,449
Intangible assets........................ 781,684
Other assets............. 1,736,574
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Total assets............................. $56,153,587
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LIABILITIES
Deposits:
In domestic offices...................... $27,031,362
Noninterest-bearing... 11,899,507
Interest-bearing...... 15,131,855
In foreign offices. Edge and
Agreement subsidiaries, and IBFs 13,794,449
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Noninterest-bearing... 590,999
Interest-bearing...... 13,203,450
Federal funds purchased and Securi-
ties sold under agreements to re-
purchase................................. 2,238,881
Demand notes issued to the U.S.
Treasury................................. 173,851
Trading liabilities....................... 1,695,216
Other borrowed money:
With remaining maturity of one
year or less............................. 1,905,330
With remaining maturity of more
than one year through three years........ 0
With remaining maturity of more
than three years......................... 25,664
Bank's liability on acceptances exe-
cuted and outstanding.................... 1,195,923
Subordinated notes and debentures 1,012,940
Other liabilities......................... 2,018,950
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Total liabilities......................... 51,192,576
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EQUITY CAPITAL
Common stock.............................. 1,135,284
Surplus................................... 731,319
Undivided profits and capital
reserves................................. 3,093,726
Net unrealized holding gains
(losses) on available-for-sale se-
curities................................. 36,866
Cumulative foreign currency transla-
tion adjustments......................... (36,184)
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Total equity capital...................... 4,961,011
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Total liabilities and equity capital...... $56,153,587
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I, Robert E. Keilman, Senior Vice President and Comptroller of the above-
named bank do hereby declare that this Report of Condition has been prepared in
conformance with the instructions issued by the Board of Governors of the
Federal Reserve System and is true to the best of my knowledge and belief.
Robert E. Keilman
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 Board of Governors of the Federal Reserve System and is true and
correct.
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Thomas A. Renyi }
Alan R. Griffith } Directors
J. Carter Baco }
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