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EXHIBIT 25.2
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM T-1
STATEMENT OF ELIGIBILITY AND QUALIFICATION 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)
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U.S. TRUST COMPANY OF TEXAS, N.A.
(Exact name of trustee as specified in its charter)
00-0000000
(State of incorporation (I.R.S. employer
if not a national bank) identification No.)
0000 Xxxx Xxx, Xxxxx 0000 00000
Xxxxxx, Xxxxx (Zip Code)
(Address of trustee's
principal executive offices)
Compliance Officer
U.S. Trust Company of Texas, N.A.
0000 Xxxx Xxx, Xxxxx 0000
Xxxxxx, Xxxxx 00000
(000) 000-0000
(Name, address and telephone number of agent for service)
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Packaging Corporation of America
(Exact name of obligor as specified in its charter)
Delaware 00-0000000
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification No.)
0000 Xxxx Xxxxx Xxxxx
Xxxx Xxxxxx, XX 00000
(Address of principal executive offices) (Zip Code)
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12 3/8% Subordinated Exchange Debentures due 2010
(Title of the indenture securities)
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GENERAL
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.
Federal Reserve Bank of Dallas (11th District), Dallas, Texas
(Board of Governors of the Federal Reserve System)
Federal Deposit Insurance Corporation, Dallas, Texas
The Office of the Comptroller of the Currency, Dallas, Texas
(b) Whether it is authorized to exercise corporate trust powers.
The Trustee is authorized to exercise corporate trust powers.
2. AFFILIATIONS WITH OBLIGOR AND UNDERWRITERS.
If the obligor or any underwriter for the obligor is an affiliate of the
Trustee, describe each such affiliation.
None.
3. VOTING SECURITIES OF THE TRUSTEE.
Furnish the following information as to each class of voting securities of
the Trustee:
As of May 25, 1999
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Col A. Col B.
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Title of Class Amount Outstanding
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Capital Stock - par value $100 per share 5,000 shares
4. TRUSTEESHIPS UNDER OTHER INDENTURES.
Not Applicable
5. INTERLOCKING DIRECTORATES AND SIMILAR RELATIONSHIPS WITH THE OBLIGOR OR
UNDERWRITERS.
Not Applicable
6. VOTING SECURITIES OF THE TRUSTEE OWNED BY THE OBLIGOR OR ITS OFFICIALS.
Not Applicable
7. VOTING SECURITIES OF THE TRUSTEE OWNED BY UNDERWRITERS OR THEIR OFFICIALS.
Not Applicable
8. SECURITIES OF THE OBLIGOR OWNED OR HELD BY THE TRUSTEE.
Not Applicable
9. SECURITIES OF UNDERWRITERS OWNED OR HELD BY THE TRUSTEE.
Not Applicable
10. OWNERSHIP OR HOLDINGS BY THE TRUSTEE OF VOTING SECURITIES OF CERTAIN
AFFILIATES OR SECURITY HOLDERS OF THE OBLIGOR.
Not Applicable
11. OWNERSHIP OR HOLDINGS BY THE TRUSTEE OF ANY SECURITIES OF A PERSON OWNING
50 PERCENT OR MORE OF THE VOTING SECURITIES OF THE OBLIGOR.
Not Applicable
12. INDEBTEDNESS OF THE OBLIGOR TO THE TRUSTEE.
Not Applicable
13. DEFAULTS BY THE OBLIGOR.
Not Applicable
14. AFFILIATIONS WITH THE UNDERWRITERS.
Not Applicable
15. FOREIGN TRUSTEE.
Not Applicable
16. LIST OF EXHIBITS.
T-1.1 - A copy of the Articles of Association of U.S. Trust Company of
Texas, N.A.; incorporated herein by reference to Exhibit T-1.1
filed with Form T-1 Statement, Registration No. 22-21897.
16. (con't.)
T-1.2 - A copy of the certificate of authority of the Trustee to
commence business; incorporated herein by reference to Exhibit
T-1.2 filed with Form T-1 Statement, Registration No. 22-21897.
T-1.3 - A copy of the authorization of the Trustee to exercise
corporate trust powers; incorporated herein by reference to
Exhibit T-1.3 filed with Form T-1 Statement, Registration
No. 22-21897.
T-1.4 - A copy of the By-laws of the U.S. Trust Company of Texas, N.A.,
as amended to date; incorporated herein by reference to
Exhibit T-1.4 filed with Form T-1 Statement, Registration
No. 22-21897.
T-1.6 - The consent of the Trustee required by Section 321(b) of the
Trust Indenture Act of 1939.
T-1.7 - A copy of the latest report of condition of the Trustee
published pursuant to law or the requirements of its
supervising or examining authority.
NOTE
As of May 25, 1999, the Trustee had 5,000 shares of Capital Stock outstanding,
all of which are owned by U.S. T.L.P.O. Corp. As of May 25, 1999, U.S. T.L.P.O.
Corp. had 35 shares of Capital Stock outstanding, all of which are owned by
U.S. Trust Corporation. U.S. Trust Corporation had outstanding 18,597,534
shares of $1 par value Common Stock as of May 25, 1999.
The term "Trustee" in Items 2, 5, 6, 7, 8, 9, 10 and 11 refers to each of U.S
Trust Company of Texas, N.A., U.S. T.L.P.O. Corp. and U.S. Trust Corporation.
In as much as this Form T-1 is filed prior to the ascertainment by the Trustee
of all the facts on which to base responsive answers to Items 2, 5, 6, 7, 9,
10 and 11, the answers to said Items are based upon incomplete information.
Items 2, 5, 6, 7, 9, 10 and 11 may, however, be considered correct unless
amended by an amendment to this Form T-1.
In answering any items in this Statement of Eligibility and Qualification which
relates to matters peculiarly within the knowledge of the obligors or their
directors or officers, or an underwriter for the obligors, the Trustee has
relied upon information furnished to it by the obligors and will rely on
information to be furnished by the obligors or such underwriter, and the Trustee
disclaims responsibility for the accuracy or completeness of such information.
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SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939 the Trustee,
U.S Trust Company of Texas, N.A., a national banking association organized under
the laws of the United States of America, has duly caused this statement of
eligibility and qualification to be signed on its behalf by the undersigned,
thereunto duly authorized, on the 25th day of May, 1999.
U.S. Trust Company
of Texas, N.A., Trustee
By: /s/Xxxx Xxxxxxxx
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Authorized Officer
Exhibit T-1.6
CONSENT OF TRUSTEE
Pursuant to the requirements of Section 321(b) of the Trust Indenture Act of
1939 as amended in connection with the proposed issue of R & B Falcon
Corporation, Senior Notes, we hereby consent that reports of examination by
Federal, State, Territorial or District authorities may be furnished by such
authorities to the Securities and Exchange Commission upon request therefore.
U.S. Trust Company of Texas, N.A.
By: /s/Xxxx Xxxxxxxx
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Authorized Officer
EXHIBIT T-1.7
Board of Governors of the Federal
Reserve System
OMB Number: 7100-0036
Federal Deposit Insurance Corporation
OMB Number: 3064-005
Office of the Comptroller of the
Currency
Federal Financial Institutions OMB Number: 1557-0081
Examination Council Expires March 31, 2001
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(1)
Please Refer to Page I,
(LOGO) Table of Contents, for
the required disclosure
of estimated burden.
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CONSOLIDATED REPORTS OF CONDITION
AND INCOME FOR A BANK WITH
DOMESTIC OFFICES ONLY AND TOTAL
ASSETS OF LESS THAN $100 MILLION (19990331)
OR MORE BUT LESS THAN $300 ----------
MILLION - - FFIEC 033 (RCRI 9999)
REPORT AT THE CLOSE OF BUSINESS This report form is to be filed by banks
MARCH 31, 1999 with domestic offices only. Banks with
branches and consolidated subsidiaries
This report is required by law: in U.S. territories and possessions,
12 U.S.C. Section Section 324 Edge or Agreement subsidiaries, foreign
(State member banks); 12 U.S.C. branches, consolidated foreign
Section Section 1817 (State subsidiaries, or International Banking
nonmember banks); and 12 U.S.C. Facilities must file FFIEC 031.
Section Section 161 (National
banks).
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NOTE: The Reports of Condition and The Reports of Condition and Income are
Income must be signed by an to be prepared in accordance with
authorized officer and the Report of Federal regulatory authority
Condition must be attested to by not instructions. NOTE: these instructions
less than two directors (trustees) may in some cases differ from generally
for State nonmember banks and three accepted accounting principles.
directors for State member and
National Banks.
I, Xxxxxx X. Childs, Managing Director
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Name and Title of Officer
Authorized to Sign Report
of the named bank do hereby declare We, the undersigned directors
that these Reports of Condition and (trustees), attest to the correctness of
Income (including the supporting this Report of Condition (including the
schedules) have been prepared in supporting schedules) and declare that
conformance with the instructions it has been examined by us and to the
issued by the appropriate Federal best of our knowledge and belief has
regulatory authority and are true to been prepared in conformance with the
the best of my knowledge and belief. instructions issued by the appropriate
Federal regulatory authority and is true
and correct.
/s/ Xxxxxx X. Childs /s/ Xxxxxx X. Xxxxxxx
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Signature of Officer Authorized to Director (Trustee)
Sign Report
/s/. X. X. More, Jr.
April 21, 1999 --------------------------
-------------------------------- Director (Trustee)
Date of Signature
/s/. Xxxxxx Xxxxx
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Director (Trustee)
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SUBMISSION OF REPORTS
Each bank must prepare its Reports of For electronic filing assistance,
Condition and Income either: contact EDS Call Report Services, 2150
(a) in electronic form and then file Xxxxx Xxxxxxxx Xxxxxx, Xxxxxxxxx, XX
the computer data file directly 53202, telephone (000) 000-0000.
with the banking agencies'
collection agent, Electronic Data To fulfill the signature and attestation
Systems Corporation (EDS), by requirement for the Reports of Condition
modem or on computer diskette; or and Income for this report date, attach
(b) in hard-copy (paper) form and this signature page to the hard-copy
arrange for another party to record of the completed report that the
convert the paper report to bank places in its files.
electronic form. That party (if
other than EDS) must transmit the
bank's computer data file to EDS.
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FDIC Certificate Number 33217 US TRUST COMPANY OF TEXAS, NATIONAL
----------- ASSOCIATION
(RCRI 9050) -----------------------------------
Legal Title of Bank (TEXT 9010)
DALLAS
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City (TEXT 9130)
TX 75201
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State Abbrev. Zip Code.
(TEXT 9200) (TEXT 9220)
Board of Governors of the Federal Reserve System, Federal Deposit Insurance
Corporation, Office of the Comptroller of the Currency
U.S. TRUST COMPANY OF TEXAS, N.A. Call Date: 3/31/1999 State #: 48-6797 XXXXX 000
0000 XXXX XXXXXX, XXXXX 0000 Xxxxxx XX: D Cert #: 33217 RC-1
XXXXXX, XX 00000 Transit #: 11101765
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9
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CONSOLIDATED REPORT OF CONDITION FOR INSURED COMMERCIAL
AND STATE-CHARTERED SAVINGS BANKS FOR MARCH 31, 1999
All schedules are to be reported in thousands of dollars. Unless otherwise
indicated, report the amount outstanding as of the last business day of the
quarter.
SCHEDULE RC - BALANCE SHEET
C200
Dollar Amounts in Thousands
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ASSETS
1. Cash and balances due from depository institutions: RCON
---- ----------
a. Noninterest-bearing balances and currency and coin (1,2)_________________ ______ _______ 0081 1,297 1.a
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b. Interest bearing balances (3)____________________________________________ ______ _______ 0071 696 1.b
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2. Securities:
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a. Held-to-maturity securities (from Schedule RC-B, column A)_______________ ______ _______ 1754 0 2.a
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b. Available-for-sale securities (from Schedule RC-B, column D)_____________ ______ _______ 1773 131,683 2.b
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3. Federal funds sold (4) and securities purchased under agreements to resell: 1350 6,000 3
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4. Loans and lease financing receivables: RCON
---- ---------
a. Loans and leases, net of unearned income (from Schedule RC-C)____________ 2122 22,709 4.a
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b. LESS: Allowance for loan and lease losses_______________________________ 3123 260 4.b
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c. LESS: Allocated transfer risk reserve___________________________________ 3128 0 4.c
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d. Loans and leases, net of unearned income, allowance, and reserve RCON
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(item 4.a minus 4.b and 4.c)____________________________________________ ______ _______ 2125 22,249 4.d
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5. Trading assets_______________________________________________________________ ______ _______ 3545 0 5.
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6. Premises and fixed assets (including capitalized leases)_____________________ ______ _______ 2145 917 6.
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7. Other real estate owned (from Schedule RC-M)_________________________________ ______ _______ 2150 0 7.
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8. Investments in unconsolidated subsidiaries and associated companies
(from Schedule RC-M)_________________________________________________________ ______ _______ 2130 0 8.
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9. Customers' liability to this bank on acceptances outstanding_________________ ______ _______ 2155 0 9.
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10. Intangible assets (from Schedule RC-M)_______________________________________ ______ _______ 2143 1,950 10.
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11. Other assets (from Schedule RC-F)____________________________________________ ______ _______ 2160 2,527 11.
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12. Total assets (sum of items 1 through 11)_____________________________________ ______ _______ 2170 167,519 12.
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(1) Includes cash items in process of collection and unposted debits.
(2) Included time certificates of deposit not held for trading.
U.S. TRUST COMPANY OF TEXAS, N.A. Call Date: 03/31/1999 State #: 48-6797 XXXXX 000
0000 XXXX XXXXXX, XXXXX 0000 Xxxxxx XX: D Cert #: 33217 RC-2
XXXXXX, XX 00000 Transit #: 11101765
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10
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SCHEDULE RC - CONTINUED
Dollar Amounts in Thousands
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LIABILITIES
13. Deposits:
a. In domestic offices (sum of totals of RCON
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columns A and C from Schedule RC-E)_____________________________________ RCON 2200 141,618 13.a
---- ---------- ----------
(1) Noninterest-bearing (1)____________________________________________ 6631 8,794 13.a.1
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(2) Interest-bearing __________________________________________________ 6636 132,824 13.a.2
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b. In foreign offices, Edge and Agreement subsidiaries, and IBFs
(1) Noninterest-bearing_______________________________________________
(2) Interest-bearing__________________________________________________
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14. Federal funds purchased(2) and securities sold under agreements to RCON 0 14
----
repurchase: 2800
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15. a. Demand notes issued to the U.S. Treasury_________________________________ ______ _______ 2840 0 15.a
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b. Trading liabilities______________________________________________________ ______ _______ 3548 0 15.b
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16. Other borrowed money:
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A. WITH A REMAINING MATURITY OF ONE YEAR OR LESS____________________________ ______ _______ 2332 0 16.a
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B. WITH A REMAINING MATURITY OF MORE THAN ONE YEAR THROUGH THREE YEARS_______ ______ _______ A547 2,000 16.b
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C. WITH A REMAINING MATURITY OF MORE THAN THREE YEARS________________________ ______ _______ A548 1,000 16.c
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17. Not applicable
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18. Bank's liability on acceptances executed and outstanding_____________________ ______ _______ 2920 0 18.
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19. Subordinated notes and debentures____________________________________________ ______ _______ 3200 0 19.
----------
20. Other liabilities (from Schedule RC-G)_______________________________________ ______ _______ 2930 2,317 20.
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21. Total liabilities (sum of items 13 through 20)_______________________________ ______ _______ 2948 146,935 21.
22. Not applicable
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EQUITY CAPITAL
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RCON
----
23. Perpetual preferred stock and related surplus________________________________ ______ ______ 3838 7,000 23.
----------
24. Common stock_________________________________________________________________ ______ ______ 3230 500 24.
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25. Surplus (exclude all surplus related to preferred stock)_____________________ ______ ______ 3839 8,384 25.
----------
26. a. Undivided profits and capital reserves___________________________________ ______ ______ 3632 4,406 26.a
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b. Net unrealized holding gains (losses) on available-for-sale securities___ ______ ______ 8434 294 26.b
----------
27. Cumulative foreign currency translation adjustments__________________________
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28. Total equity capital (sum of items 23 through 27)____________________________ ______ ______ 3210 20,584 28.
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29. Total liabilities and equity capital (sum of items 21 and 28)________________ ______ ______ 2257 167,519 29.
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MEMORANDUM
TO BE REPORTED ONLY WITH THE MARCH REPORT OF CONDITION.
NUMBER
1. Indicate in the box at the right the number of the statement below that best describes the ----------
most comprehensive level of auditing work performed for the bank by independent external
auditors as of any date during 1998____________________________________________________ 6724 1 M.1
----------
1 = Independent audit of the bank conducted in accordance with generally
accepted auditing standards by certified public accounting firm which
submits a report on the bank
2 = Independent audit of the bank's parent holding company conducted in
accordance with generally accepted auditing standards by a certified public
accounting firm which submits a report on the consolidated holding company
(but not on the bank separately)
3 = Directors' examination of the bank conducted in accordance with generally
accepted auditing standards by a certified public accounting firm (may be
required by state chartering authority)
4 = Directors' examination of the bank performed by other external auditors (may
be required by state chartering authority)
5 = Review of the bank's financial statements by external auditors
6 = Compilation of the bank's financial statements by external auditors
7 = Other audit procedures (excluding tax preparation work)
8 = No external audit work
(1) Includes total demand deposits and noninterest-bearing time and savings
deposits.
(2) Includes limited-life preferred stock and related surplus.
