EX-25.1 3 a2204153zex-25_1.htm EX-25.1

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 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)  [  ]

 


 

THE BANK OF NEW YORK MELLON

(Exact name of trustee as specified in its charter)

 

New York

 

13-5160382

(Jurisdiction of incorporation or
organization if not a U.S. national bank)

 

(I.R.S. Employer
Identification No.)

 

One Wall Street

New York, New York

 

10286

(Address of principal executive offices)

 

(Zip code)

 

Legal Department

The Bank of New York Mellon

One Wall Street, 15th Floor

New York, NY  10286

(212) 635-1270

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

 

POLYPORE INTERNATIONAL, INC.

(Exact name of obligor as specified in its charter)

(See table of additional obligors on following page)

 

Delaware

(State or other jurisdiction

of incorporation or organization)

 

43-2049334

(I.R.S. Employer

Identification No.)

 

11430 North Community House Road,

Suite 350

Charlotte, North Carolina

(Address of principal executive offices)

 

28277

(Zip code)

 


 

7.5% Senior Notes due 2017

(Title of the indenture securities)

 


 

 

 



 

TABLE OF ADDITIONAL OBLIGORS

 

Exact Name of Obligor as
Specified in its Charter

 

State or Other
Jurisdiction or
Incorporation or
Organization

 

I.R.S. Employer
Identification
Number

 

Address, Including Zip Code and
Telephone Number, Including Area Code,
of Principal Executive Offices

 

 

 

 

 

 

 

Celgard, LLC

 

Delaware

 

56-2169137

 

c/o Polypore International, Inc.
11430 North Community
House Road, Suite 350
Charlotte, N.C. 28277
(704) 587-8409

 

 

 

 

 

 

 

Daramic, LLC

 

Delaware

 

57-1006869

 

c/o Polypore International, Inc.
11430 North Community
House Road, Suite 350
Charlotte, N.C. 28277
(704) 587-8409

 

 

 

 

 

 

 

Daramic Acquisition Corp.

 

Delaware

 

26-2071019

 

c/o Polypore International, Inc.
11430 North Community
House Road, Suite 350
Charlotte, N.C. 28277
(704) 587-8409

 

 

 

 

 

 

 

Daramic Asia, Inc.

 

Delaware

 

57-1010460

 

c/o Polypore International, Inc.
11430 North Community
House Road, Suite 350
Charlotte, N.C. 28277
(704) 587-8409

 

 

 

 

 

 

 

Daramic Holding, LLC

 

Delaware

 

N/A

 

c/o Polypore International, Inc.
11430 North Community
House Road, Suite 350
Charlotte, N.C. 28277
(704) 587-8409

 

 

 

 

 

 

 

Daramic International, Inc.

 

Delaware

 

57-1010462

 

c/o Polypore International, Inc.
11430 North Community
House Road, Suite 350
Charlotte, N.C. 28277
(704) 587-8409

 

 

 

 

 

 

 

Microporous Holding, LLC

 

Delaware

 

20-5802561

 

c/o Polypore International, Inc.
11430 North Community
House Road, Suite 350
Charlotte, N.C. 28277
(704) 587-8409

 

ii



 

 

 

 

 

 

 

 

Microporous Products, LLC

 

Delaware

 

90-0582620

 

c/o Polypore International, Inc.
11430 North Community
House Road, Suite 350
Charlotte, N.C. 28277
(704) 587-8409

 

 

 

 

 

 

 

MP Assets Corporation

 

Delaware

 

27-4265702

 

c/o Polypore International, Inc.
11430 North Community
House Road, Suite 350
Charlotte, N.C. 28277
(704) 587-8409

 

iii



 

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.

 

Superintendent of Banks of the

One State Street, New York, N.Y. 10004-1417

State of New York

and Albany, N.Y. 12223

Federal Reserve Bank of New York

33 Liberty Plaza, New York, N.Y. 10045

Federal Deposit Insurance Corporation

550 17th Street, N.W., Washington, D.C. 20429

New York Clearing House Association

New York, N.Y. 10005

 

(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 16.  List of Exhibits.

 

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 (the “Act”) and 17 C.F.R. 229.10(d).

 

1.

 

-

 

A copy of the Organization Certificate of The Bank of New York Mellon (formerly 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, Exhibit 1 to Form T-1 filed with Registration Statement No. 33-29637, Exhibit 1 to Form T-1 filed with Registration Statement No. 333-121195 and Exhibit 1 to Form T-1 filed as Exhibit 25.1 to Current Report on Form 8-K of Nevada Power Company, Date of Report (Date of Earliest Event Reported) July 25, 2008 (File No. 000-52378).)

 

 

 

 

 

4.

 

-

 

A copy of the existing By-laws of the Trustee. (Exhibit 4 to Form T-1 with Registration Statement No. 333-155238.)

 

 

 

 

 

6.

 

-

 

The consent of the Trustee required by Section 321(b) of the Act. (Exhibit 6 to Form T-1 filed with Registration Statement No. 333-152856.)

 

 

 

 

 

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.

 



 

SIGNATURE

 

Pursuant to the requirements of the Act, the Trustee, The Bank of New York Mellon, 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 13th day of May, 2011.

 

 

THE BANK OF NEW YORK MELLON

 

 

 

 

 

 

 

 

 

By:

/s/ Teisha Wright

 

 

Name:

Teisha Wright

 

 

Title:

Senior Associate

 


 

EXHIBIT 7

 

Consolidated Report of Condition of

THE BANK OF NEW YORK MELLON

of One Wall Street, New York, N.Y. 10286
And Foreign and Domestic Subsidiaries,

 

a member of the Federal Reserve System, at the close of business December 31, 2010, 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 Amounts
In Thousands

 

ASSETS

 

 

 

Cash and balances due from depository institutions:

 

 

 

Noninterest-bearing balances and currency and coin

 

$

2,924,000

 

Interest-bearing balances

 

64,634,000

 

Securities:

 

 

 

Held-to-maturity securities

 

3,651,000

 

Available-for-sale securities

 

58,491,000

 

Federal funds sold and securities purchased under agreements to resell

 

 

 

Federal funds sold in domestic offices

 

20,000

 

Securities purchased under agreements to resell

 

1,792,000

 

Loans and lease financing receivables:

 

 

 

Loans and leases held for sale

 

6,000

 

Loans and leases, net of unearned income

 

23,307,000

 

LESS: Allowance for loan and lease losses

 

482,000

 

Loans and leases, net of unearned income and allowance

 

22,825,000

 

Trading Assets

 

4,910,000

 

Premises and fixed assets (including capitalized leases)

 

1,163,000

 

Other real estate owned

 

6,000

 

Investments in unconsolidated subsidiaries and associated companies

 

947,000

 

Not applicable

 

 

 

Intangible assets:

 

 

 

Goodwill

 

6,364,000

 

Other intangible assets

 

1,805,000

 

Other assets

 

12,317,000

 

Total assets

 

$

181,855,000

 

 

i



 

LIABILITIES

 

 

 

Deposits:

 

 

 

In domestic offices

 

$

65,674,000

 

Noninterest-bearing

 

33,246,000

 

Interest-bearing

 

32,428,000

 

In foreign offices, Edge and Agreement subsidiaries, and IBFs

 

75,029,000

 

Noninterest-bearing

 

4,900,000

 

Interest-bearing

 

70,129,000

 

Federal funds purchased and securities sold under agreements to repurchase

 

 

 

Federal funds purchased in domestic offices

 

3,272,000

 

Securities sold under agreements to repurchase

 

1,550,000

 

Trading liabilities

 

6,207,000

 

Other borrowed money: (includes mortgage indebtedness and obligations under capitalized leases)

 

2,191,000

 

Not applicable

 

 

 

Not applicable

 

 

 

Subordinated notes and debentures

 

3,490,000

 

Other liabilities

 

8,577,000

 

 

 

 

 

Total liabilities

 

$

165,990,000

 

Not applicable

 

 

 

 

 

 

 

EQUITY CAPITAL

 

 

 

Perpetual preferred stock and related surplus

 

0

 

Common stock

 

1,135,000

 

Surplus (exclude all surplus related to preferred stock)

 

8,591,000

 

Retained earnings

 

6,821,000

 

Accumulated other comprehensive income

 

-1,044,000

 

Other equity capital components

 

0

 

Total bank equity capital

 

15,503,000

 

Noncontrolling (minority) interests in consolidated subsidiaries

 

362,000

 

 

 

 

 

Total equity capital

 

15,865,000

 

 

 

 

 

Total liabilities, minority interest, and equity capital

 

$

181,855,000

 

 

ii



 

I, Thomas P. Gibbons, Chief Financial Officer of the above-named bank do hereby declare that this Report of Condition is true and correct to the best of my knowledge and belief.

 

 

Thomas P. Gibbons,

 

Chief Financial Officer

 

We, the undersigned directors, attest to the correctness of this statement of resources and liabilities. We 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 and is true and correct.

 

Gerald L. Hassell
Steven G. Elliott
Robert P. Kelly

Directors

 

iii