EX-25.1 9 dex251.htm FORM T-1 Form T-1

Exhibit 25.1

 

CONFORMED COPY


 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


 

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)

 

HSBC Bank USA, National Association

(Exact name of trustee as specified in its charter)

 

N/A   20-1177241
(Jurisdiction of incorporation
or organization if not a U.S.
national bank)
  (I.R.S. Employer
Identification No.)
90 Christiana Road
New Castle, Delaware
  19702
(Address of principal executive offices)   (Zip Code)

 

John J. Mazzarella, FVP

HSBC Bank USA, National Association

452 Fifth Avenue

New York, New York 10018-2706

Tel: (212) 525-1801

(Name, address and telephone number of agent for service)

 

RCN Corporation

(Exact name of obligor as specified in its charter)

 

Delaware   22-3498533
(State or other jurisdiction
of incorporation or organization)
  (I.R.S. Employer
Identification No.)
105 Carnegie Center
Princeton, NJ
(609) 734-3811
  08540
(Address of principal executive offices)   (Zip Code)

 

7.375% Convertible Second-Lien Notes Due 2012

(Title of Indenture Securities)

 



General

 

Item 1. General Information.

 

Furnish the following information as to the trustee:

 

(a) Name and address of each examining or supervisory authority to which it is subject.

 

Comptroller of the Currency, New York, NY.

 

Federal Deposit Insurance Corporation, Washington, D.C.

 

Board of Governors of the Federal Reserve System, Washington, D.C.

 

(b) Whether it is authorized to exercise corporate trust powers.

 

Yes.

 

Item 2. Affiliations with Obligor.

 

If the obligor is an affiliate of the trustee, describe each such affiliation.

 

None

 

Item 3-15. Not Applicable

 


Item 16. List of Exhibits

 

 

Exhibit

   
T1A(i) (1)   Copy of the Articles of Association of HSBC Bank USA, National Association.
T1A(ii) (1)   Certificate of the Comptroller of the Currency dated July 1, 2004 as to the authority of HSBC Bank USA, National Association to commence business.
T1A(iii) (3)   Certificate of Fiduciary Powers dated August 18, 2004 for HSBC Bank USA, National Association
T1A(iv) (1)   Copy of the existing By-Laws of HSBC Bank USA, National Association.
T1A(v)   Not applicable.
T1A(vi) (2)   Consent of HSBC Bank USA, National Association required by Section 321(b) of the Trust Indenture Act of 1939.
T1A(vii)   Copy of the latest report of condition of the trustee (March 31, 2005), published pursuant to law or the requirement of its supervisory or examining authority.
T1A(viii)   Not applicable.
T1A(ix)   Not applicable.

 

(1) Exhibits previously filed with the Securities and Exchange Commission with Registration No. 333-118523 and incorporated herein by reference thereto.

 

(2) Exhibits previously filed with the Securities and Exchange Commission with Registration No. 333-113911 and incorporated herein by reference thereto.

 

(3) Exhibits previously filed with the Securities and Exchange Commission with Registration No. 333-122063 and incorporated herein by reference thereto.

 


SIGNATURE

 

Pursuant to the requirements of the Trust Indenture Act of 1939, the Trustee, HSBC Bank USA, National Association a national banking association organized and existing under the laws of the United States of America, 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 13th day of July, 2005.

 

HSBC BANK USA, NATIONAL ASSOCIATION

By:

 

/s/ Stephen Ferrera

   

     Stephen Ferrera

   

     Vice President

 


Exhibit T1A (vii)

 

    

Board of Governors of the Federal Reserve System

OMB Number: 7100-0036

Federal Deposit Insurance Corporation

OMB Number: 3064-0052

Office of the Comptroller of the Currency

OMB Number: 1557-0081

    
Federal Financial Institutions Examination Council    Expires March 31, 2007     
    

Please refer to page i,

Table of Contents, for

the required disclosure

of estimated burden.

   1

 

Consolidated Reports of Condition and Income for
A Bank With Domestic and Foreign Offices—   FFIEC 031
   

  (20040630)

(RCRI 9999)

Report at the close of business March 31, 2005    

 

This report is required by law; 12 U.S.C. §324 (State member banks); 12 U.S.C. § 1817 (State nonmember banks); and 12 U.S.C. §161 (National banks).         This report form is to be filed by banks with branches and consolidated subsidiaries in U.S. territories and possessions, Edge or Agreement subsidiaries, foreign branches, consolidated foreign subsidiaries, or International Banking Facilities.
NOTE: The Reports of Condition and Income must be signed by an authorized officer and the Report of Condition must be attested to by not less than two directors (trustees) for State nonmember banks and three directors for State member and National Banks.         The Reports of Condition and Income are to be prepared in accordance with Federal regulatory authority instructions.

I, Joseph R. Simpson, Controller

   Name and Title of Officer Authorized to Sign Report

        We, the undersigned directors (trustees), attest to the correctness of this Report of Condition (including the supporting schedules) 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 appropriate Federal regulatory authority and is true and correct.
Of the named bank do hereby declare that these Reports of Condition and Income (including the supporting schedules) have been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and are true to the best of my knowledge and believe.         /s/ Sal H. Alfieri
          Director (Trustee)
/s/ Joseph R. Simpson         /s/ Bernard J. Kennedy
Signature of Officer Authorized to Sign Report         Director (Trustee)
5/10/05         /s/ Martin Glynn
Date of Signature         Director (Trustee)

 

Submission of Reports

 

Each Bank must prepare its Reports of Condition and Income either:

 

(a)    in electronic form and then file the computer data file directly with the banking agencies’ collection agent, Electronic Data System Corporation (EDS), by modem or computer diskette; or

 

b)      in hard-copy (paper) form and arrange for another party to convert the paper report to automated for. That party (if other than EDS) must transmit the bank’s computer data file to EDS.

 

For electronic filing assistance, contact EDS Call report Services, 2150 N. Prospect Ave., Milwaukee, WI 53202, telephone (800) 255-1571.

 

To fulfill the signature and attestation requirement for the Reports of Condition and Income for this report date, attach this signature page to the hard-copy f the completed report that the bank places in its files.

 

FDIC Certificate Number

   5    7    8    9    0     
     (RCRI 9030)     

 

http://WWW.BANKING.US.HSBC.COM

Primary Internet Web Address of Bank (Home Page), if any (TEXT 4087)

(Example: www.examplebank.com)

 

HSBC Bank USA, NATIONAL ASSOCIATION

Legal Title of Bank (TEXT 9010)

 

Wilmington

City (TEXT 9130)

 

     DE    19801
     State Abbrev. (TEXT 9200)    ZIP Code (TEXT 9220)

 


Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency

 

REPORT OF CONDITION    
Consolidated domestic subsidiaries        
HSBC Bank USA, National Association   of Buffalo    
    Name of Bank   City    

 

in the state of New York, at the close of business March 31, 2005

 

          Thousands of dollars

ASSETS

             

Cash and balances due from depository institutions:

             

a. Non-interest-bearing balances currency and coin

          $ 4,181,938

b. Interest-bearing balances

            3,000,883

Held-to-maturity securities

            3,435,345

Available-for-sale securities

            15,497,190

Federal funds sold and securities purchased under agreements to resell:

             

a. Federal funds sold in domestic offices

            575,000

b. Securities purchased under agreements to resell

            2,278,365

Loans and lease financing receivables:

             

Loans and leases held for sale

            1,947,191

Loans and leases net of unearned income

   $ 83,667,261       

LESS: Allowance for loan and lease losses

     771,721       

Loans and lease, net of unearned income, allowance, and reserve

            82,895,540

Trading assets

            16,274,148

Premises and fixed assets

            581,140

Other real estate owned

            18,668

Investments in unconsolidated subsidiaries

            276,514

Customers’ liability to this bank on acceptances outstanding

            60,523

Intangible assets: Goodwill

            2,091,831

Intangible assets: Other intangible assets

            360,094

Other assets

            5,094,244
           

Total assets

          $ 138,568,614
           

LIABILITIES

             

Deposits:

             

In domestic offices

          $ 59,206,551

Non-interest-bearing

   $ 8,436,610       

Interest-bearing

     50,769,941       

In foreign offices

            24,890,120

Non-interest-bearing

     299,556       

Interest-bearing

     24,590,564       

Federal funds purchased and securities sold under agreements to repurchase:

             

a. Federal funds purchased in domestic offices

            66,650

 


b. Securities sold under agreements to repurchase

     1,284,404

Trading Liabilities

     11,187,187

Other borrowed money

     22,004,425

Bank’s liability on acceptances

     60,523

Subordinated notes and debentures

     3,529,454

Other liabilities

     4,936,179
    

Total liabilities

   $ 127,165,493
    

Minority Interests in consolidated Subsidiaries

   $ 363

EQUITY CAPITAL

      

Perpetual preferred stock and related surplus

     —  

Common Stock

     2,000

Surplus

     9,260,394

Retained earnings

     2,157,836

Accumulated other comprehensive income

     -17,472

Other equity capital components

     —  
    

Total equity capital

     11,402,758
    

Total liabilities, minority interests and equity capital

   $ 138,568,614