As referenced in our press release dated January 11, 2018 and in our Current Report on Form 8-K dated January 11, 2018, Ambac Assurance Corporation (“AAC”) has commenced a series exchange offers related to AAC’s 5.1% senior surplus notes due 2020 (the “Surplus Notes”) and a solicitation of consents from holders of the Surplus Notes to a waiver and amendment to the Bank Settlement Agreement, dated as of June 7, 2010, between Ambac Financial Group, Inc., AAC, Ambac Credit Products, LLC and certain settling policy beneficiaries. Set out below is certain information that AAC provided in connection with the exchange offers.


As referenced in our press release dated July 19, 2017 and in our Form 8-K dated July 19, 2017, Ambac has entered into a rehabilitation exit support agreement (the “Rehabilitation Exit Support Agreement”) with certain holders (the “RESA Holders”) of beneficial interests in Deferred Amounts of the Segregated Account of Ambac Assurance Corporation and AAC’s 5.1% senior surplus notes due 2020. Pursuant to certain confidentiality agreements with the RESA Holders in connection with the negotiation of the Rehabilitation Exit Support Agreeindex2ment, Ambac agreed to publicly disclose all material non-public information provided to the RESA Holders (the “Cleansing Materials”). In addition to the Cleansing Materials attached to the Form 8-K, set out below are three further Cleansing Material documents:

 

As referenced in our Form 8-K dated September 25, 2017, Ambac and the RESA Holders have entered into an amendment to the Rehabilitation Exit Support Agreement (the “Amendment”). Pursuant to the Amendment, the parties to the Rehabilitation Exit Support Agreement deemed the forms of documents listed in Exhibit A thereto to be reasonably satisfactory. Set out below are copies of those documents, as well as copies of certain other documents relating to the rehabilitation exit transactions. Except for the Disclosure Statement and Payment Guidelines, the documents listed below are not yet effective. All documents listed below remain subject to change and Ambac undertakes no obligation to update this website to reflect any changes made to the documents listed below. Ambac will file forms of definitive documents for the rehabilitation exit transactions with the SEC upon their effectiveness.