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 l939 OF A CORPORATION
DESIGNATED TO ACT AS TRUSTEE
[ ] CHECK IF AN APPLICATION TO DETERMINE
ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(B)(2)
STATE STREET BANK AND TRUST COMPANY
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(Exact name of trustee as specified in its charter)
Massachusetts 04-1867445
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(State of incorporation if (I.R.S. Employer
not a national bank) Identification No.)
225 Franklin Street, Boston, Massachusetts 02110
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(Address of principal executive offices) (Zip Code)
Maureen Bateman, Corporate Secretary,
225 Franklin Street, Boston, Massachusetts 02110
(617) 654-3253
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(Name, address and telephone number of agent for service)
ISLE OF CAPRI CASINOS, INC.
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(Exact name of obligor as specified in its charter)
Delaware 41-1659606
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
711 Washington Loop, Second Floor, Biloxi, Mississippi 39530
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(Address of principal executive offices) (Zip Code)
8 3/4% Senior Subordinated Notes Due April 15, 2009, Series B
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(Title of the indenture securities)
Item l. 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:
Department of Banking and Insurance of
The Commonwealth of Massachusetts
100 Cambridge Street
Boston, Massachusetts
Board of Governors of the Federal Reserve System
Washington, D.C.
Federal Deposit Insurance Corporation
Washington, D.C.
(b) Whether it is authorized to exercise corporate trust powers:
The trustee is so authorized.
Item 2. Affiliations with obligor. If the obligor is an affiliate of the
trustee, describe each such affiliation.
None with respect to the trustee or its parent, State Street
Corporation.
Item l6. List of exhibits. List below all exhibits filed as a part of this
statement of eligibility and qualification.
l. A copy of the Articles of Association of the trustee as now in
effect.
A copy of the Articles of Association of the trustee, as now in
effect, is on file with the Securities and Exchange Commission as
Exhibit 1 to Amendment No. 1 to the Statement of Eligibility and
Qualification of Trustee (Form T-1) filed with Registration
Statement of Morse Shoe, Inc. (File No. 22-17940) and is
incorporated herein by reference thereto.
2. A copy of the Certificate of Authority of the trustee to do
Business.
A copy of a Statement from the Commissioner of Banks of
Massachusetts that no certificate of authority for the trustee to
commence business was necessary or issued is on file with the
Securities and Exchange Commission as Exhibit 2 to Amendment No.
1 to the Statement of Eligibility and Qualification of Trustee
(Form T-1)
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filed with Registration Statement of Morse Shoe, Inc. (File No.
22-17940) and is incorporated herein by reference thereto.
3. A copy of the Certification of Fiduciary Powers of the Trustee.
A copy of the authorization of the trustee to exercise corporate
trust powers is on file with the Securities and Exchange
Commission as Exhibit 3 to Amendment No. 1 to the Statement of
Eligibility and Qualification of Trustee (Form T-1) filed with
Registration Statement of Morse Shoe, Inc. (File No. 22-17940)
and is incorporated herein by reference thereto.
4. A copy of the By-laws of the trustee as now in effect.
A copy of the By-Laws of the trustee, as now in effect, is on
file with the Securities and Exchange Commission as Exhibit 4 to
the Statement of Eligibility and Qualification of Trustee (Form
T-1) filed with Registration Statement of Eastern Edison Company
(File No. 33-37823) and is incorporated herein by reference
thereto.
5. A consent of the trustee required by Section 32l(b) of the Act is
annexed hereto as Exhibit 5 and made a part hereof.
6. A copy of the latest Consolidated Reports of Condition of the
trustee, published pursuant to law or the requirements of its
supervising or examining authority.
A copy of the latest report of condition of the trustee published
pursuant to law or the requirements of its supervising or
examining authority is annexed hereto as Exhibit 6 and made a
part hereof.
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NOTES
Inasmuch as this Form T-1 is filed prior to the ascertainment by the
trustee of all facts on which to base its answer to Item 2, the answer to said
Item is based upon incomplete information. Said Item may, however, be
considered correct unless amended by an amendment to this Form T-1.
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SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of l939, the
trustee, State Street Bank and Trust Company, a Massachusetts trust company, has
duly caused this statement of eligibility and qualification to be signed on its
behalf by the undersigned, thereunto duly authorized, all in the City of
Hartford, and State of Connecticut, on the 28th day of June, 1999.
STATE STREET BANK AND TRUST
COMPANY,
Trustee
By /s/ Steven Cimalore
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Name: Steven Cimalore
Title: Vice President
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EXHIBIT 5
CONSENT OF THE TRUSTEE
REQUIRED BY SECTION 321(b)
OF THE TRUST INDENTURE ACT OF 1939
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The undersigned, as Trustee under an Indenture entered into between
Isle of Capri Casinos, Inc. and State Street Bank and Trust Company, Trustee,
does hereby consent that, pursuant to Section 321(b) of the Trust Indenture Act
of 1939, reports of examinations with respect to the undersigned by Federal,
State, Territorial or District authorities may be furnished by such authorities
to the Securities and Exchange Commission upon request therefor.
STATE STREET BANK AND TRUST
COMPANY,
Trustee
By /s/ Steven Cimalore
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Name: Steven Cimalore
Title: Vice President
Dated: June 28, 1999
EXHIBIT 6
Consolidated Report of Condition of State Street Bank and Trust Company,
Massachusetts and foreign and domestic subsidiaries, a state banking institution
organized and operating under the banking laws of this commonwealth and a member
of the Federal Reserve System, at the close of business December 31, 1998,
published in accordance with a call made by the Federal Reserve Bank of this
District pursuant to the provisions of the Federal Reserve Act and in accordance
with a call made by the Commissioner of Banks under General Laws, Chapter 172,
Section 22(a).
Thousands of
ASSETS Dollars
Cash and balances due from depository institutions:
Noninterest-bearing balances and currency and coin....................... 1,209,293
Interest-bearing balances................................................ 12,007,895
Securities.................................................................... 9,705,731
Federal funds sold and securities purchased
under agreements to resell in domestic offices
of the bank and its Edge subsidiary...................................... 9,734,476
Loans and lease financing receivables:
Loans and leases, net of unearned income.............6,973,125
Allowance for loan and lease losses.................. 84,308
Allocated transfer risk reserve...................... 0
Loans and leases, net of unearned income and allowances.................. 6,888,817
Assets held in trading accounts............................................... 1,574,999
Premises and fixed assets..................................................... 523,514
Other real estate owned....................................................... 0
Investments in unconsolidated subsidiaries.................................... 612
Customers' liability to this bank on acceptances outstanding.................. 47,334
Intangible assets............................................................. 212,743
Other assets.................................................................. 1,279,224
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Total assets.................................................................. 43,184,638
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LIABILITIES
Deposits:
In domestic offices...................................................... 10,852,862
Noninterest-bearing.............................8,331,830
Interest-bearing................................2,521,032
In foreign offices and Edge subsidiary................................... 16,761,573
Noninterest-bearing................................83,010
Interest-bearing...............................16,678,563
Federal funds purchased and securities sold under
agreements to repurchase in domestic offices of
the bank and of its Edge subsidiary...................................... 10,041,324
Demand notes issued to the U.S. Treasury...................................... 108,420
Trading liabilities...................................................... 1,240,938
Other borrowed money.......................................................... 322,331
Subordinated notes and debentures............................................. 0
Bank's liability on acceptances executed and outstanding...................... 47,334
Other liabilities............................................................. 1,126,058
Total liabilities............................................................. 40,500,840
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EQUITY CAPITAL
Perpetual preferred stock and related surplus................................. 0
Common stock.................................................................. 29,931
Surplus....................................................................... 468,511
Undivided profits and capital reserves/Net unrealized holding gains (losses).. 2,164,055
Net unrealized holding gains (losses) on available-for-sale securities... 21,638
Cumulative foreign currency translation adjustments........................... (337)
Total equity capital.......................................................... 2,683,798
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Total liabilities and equity capital.......................................... 43,184,638
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I, Rex S. Schuette, 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.
Rex S. Schuette
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.
David A. Spina
Marshall N. Carter
Truman S. Casner