The LoTS(SM) have a 60-year final maturity and feature a fixed rate coupon of 8.375% for an initial 10-year period with an issue price of $1,000. After the initial 10-year period, the coupon will become floating. The partnership expects to complete the offering on July 18, 2006, subject to customary closing conditions.
Wachovia Capital Markets, LLC and Lehman Brothers Inc. acted as joint book-running managers for the offering, with Wachovia acting as sole structuring advisor. UBS Securities LLC, Bank of America Securities LLC, Daiwa Securities SMBC Europe Limited, and Scotia Capital (USA) Inc. were co-managers for the offering.
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