EX-25 83 exh-251_1272110.htm EXHIBIT 25

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

(Exact name of trustee as specified in its charter)

 

New York
(Jurisdiction of incorporation
if not a U.S. national bank)

13-5160382
(I.R.S. Employer
Identification No.)

 

 

One Wall Street
New York, New York
(Address of principal executive offices)


10286
(Zip code)

 

________________

 

NOVAMERICAN

STEEL INC.

NOVAMERICAN STEEL
FINCO INC.

(Exact name of obligors as specified in their charters)

 

 

 

Delaware

Delaware

(State or Other Jurisdiction of
Incorporation or Organization)

(State or Other Jurisdiction of
Incorporation or Organization)

 

 

 

1050 University Avenue

Norwood, Massachusetts 02062 (Address of principal executive offices)

 

1050 University Avenue

Norwood, Massachusetts 02062

(Address of principal executive offices)

 

 

02062

(Zip code)

02062

(Zip code)

 

 

20-4790836
(I.R.S. Employer
Identification No.)

26-1171010
(I.R.S. Employer
Identification No.)

 

________________

 

11.5% Senior Secured Notes due 2015

(Title of the indenture securities)

_________________

 

NOVAMERICAN STEEL HOLDINGS INC.

(Exact name of obligor as specified in its charter)

 

Delaware

(State or Other Jurisdiction of

Incorporation or Organization)

 

1050 University Avenue

Norwood, Massachusetts 02062

(Address of principal executive offices)

 

02062

(Zip code)

 

26-1171107

(I.R.S. Employer

Identification No.)

_________________

 

NOVAMERICAN STEEL U.S. INC.

(Exact name of obligor as specified in its charter)

 

Delaware

(State or Other Jurisdiction of

Incorporation or Organization)

 

1050 University Avenue

Norwood, Massachusetts

(Address of principal executive offices)

 

02062

(Zip code)

 

51-0376382

(I.R.S. Employer

Identification No.)

 

_________________

 

NOVAMERICAN TUBE HOLDINGS, INC.

(Exact name of obligor as specified in its charter)

 

Delaware

(State or Other Jurisdiction of

Incorporation or Organization)

 

1050 University Avenue

Norwood, Massachusetts

(Address of principal executive offices)

 

02062

 

(Zip code)

 

04-3503740

(I.R.S. Employer

Identification No.)

_________________

 

NOVA TUBE AND STEEL, INC.

(Exact name of obligor as specified in its charter)

 

Delaware

(State or Other Jurisdiction of

Incorporation or Organization)

 

600 Dean Sievers Place

Morrisville (Falls Township),

Pennsylvania

(Address of principal executive offices)

 

19067-3706

(Zip code)

 

23-2991790

(I.R.S. Employer

Identification No.)

 

_________________

 

AMERICAN STEEL AND ALUMINUM CORPORATION

(Exact name of obligor as specified in its charter)

 

Massachusetts

(State or Other Jurisdiction of

Incorporation or Organization)

 

1050 University Avenue

Norwood, Massachusetts

(Address of principal executive offices)

 

02062

(Zip code)

 

04-2232435

(I.R.S. Employer

Identification No.)

 

_________________

 

NOVA TUBE INDIANA, LLC

(Exact name of obligor as specified in its charter)

 

Delaware

(State or Other Jurisdiction of

Incorporation or Organization)

 

 

1195 Port Road

Jeffersonville, Indiana

(Address of principal executive offices)

 

47130

(Zip code)

 

23-3028275

(I.R.S. Employer

Identification No.)

_________________

 

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
State of New York

2 Rector Street, New York, N.Y. 10006
and Albany, N.Y. 12203

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 (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 and Exhibit 1 to Form T-1 filed with Registration Statement No. 333-121195.)

 

4.    -

A copy of the existing By-laws of the Trustee. (Exhibit 4 to Form T-1 with Registration Statement No. 333-121195.)

 

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. 33-44051.).

 

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, 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 11th day of June, 2008.

 

THE BANK OF NEW YORK

 

 

 

 

 

By: 


s/ Remo J. Reale

 

 

 

Name:  Remo J. Reale
Title:  Vice President

 

 

EXHIBIT 7

(Page i of iii)

 

Consolidated Report of Condition of

THE BANK OF NEW YORK

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, 2007, published in accordance with a call made by the Federal Reserve Bank of this District pursuant to the provisions of the Federal Reserve Act.

 

ASSETS     

 

Dollar Amounts
In Thousands

 

Cash and balances due from depository institutions:     

 

 

 

 

Noninterest-bearing balances and currency and coin     

 

$

3,211,000

 

Interest-bearing balances     

 

 

24,114,000

 

Securities:     

 

 

 

 

Held-to-maturity securities     

 

 

1,776,000

 

Available-for-sale securities     

 

 

25,801,000

 

Federal funds sold and securities purchased under agreements to resell

 

 

 

 

Federal funds sold in domestic offices     

 

 

7,888,000

 

Securities purchased under agreements to resell     

 

 

168,000

 

Loans and lease financing receivables:     

 

 

 

 

Loans and leases held for sale     

 

 

0

 

Loans and leases, net of unearned income

 

 

34,419,000

 

LESS: Allowance for loan and lease losses

 

 

262,000

 

Loans and leases, net of unearned income and allowance     

 

 

34,157,000

 

Trading Assets     

 

 

4,576,000

 

Premises and fixed assets (including capitalized leases)     

 

 

946,000

 

Other real estate owned     

 

 

3,000

 

Investments in unconsolidated subsidiaries and associated companies     

 

 

719,000

 

Not applicable     

 

 

 

 

Intangible assets:     

 

 

 

 

Goodwill     

 

 

2,492,000

 

Other intangible assets     

 

 

1,002,000

 

Other assets     

 

 

8,819,000

 

Total assets     

 

$

115,672,000

 

 

 

 

 

 

 

 

EXHIBIT 7

(Page ii of iii)

 

LIABILITIES     

 

 

 

 

Deposits:     

 

 

 

 

In domestic offices     

 

$

31,109,000

 

Noninterest-bearing     

 

 

18,814,000

 

Interest-bearing     

 

 

12,295,000

 

In foreign offices, Edge and Agreement subsidiaries, and IBFs     

 

 

54,411,000

 

Noninterest-bearing     

 

 

3,890,000

 

Interest-bearing     

 

 

50,521,000

 

Federal funds purchased and securities sold under agreements to repurchase     

 

 

 

 

Federal funds purchased in domestic offices

 

 

893,000

 

Securities sold under agreements to repurchase     

 

 

110,000

 

Trading liabilities     

 

 

3,743,000

 

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

 

 

3,571,000

 

Not applicable     

 

 

 

 

Not applicable     

 

 

 

 

Subordinated notes and debentures     

 

 

2,955,000

 

Other liabilities     

 

 

9,751,000

 

Total liabilities     

 

$

106,543,000

 

Minority interest in consolidated subsidiaries     

 

 

157,000

 

 

EQUITY CAPITAL     

 

 

 

 

Perpetual preferred stock and related surplus     

 

 

0

 

Common stock     

 

 

1,135,000

 

Surplus (exclude all surplus related to preferred stock)     

 

 

2,368,000

 

Retained earnings     

 

 

5,918,000

 

Accumulated other comprehensive income

 

 

-449,000

 

Other equity capital components

 

 

0

 

Total equity capital     

 

 

8,972,000

 

Total liabilities, minority interest, and equity capital     

 

$

115,672,000

 

 

 

ii

 

EXHIBIT 7

(Page iii of iii)

 

I, Thomas J. Mastro, Senior Vice President and Comptroller 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 J. Mastro,

Senior Vice President and Comptroller

 

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.

 

 

Thomas A. Renyi
Gerald L. Hassell
Alan R. Griffith

 

 

 

 

Directors

 

 

 

 

 

iii