{
 "faithfulness": {
  "score": 0.9286,
  "hallucination_rate": 0.0714,
  "n_hallucinated": 2,
  "n_claims": 30,
  "n_supported": 26,
  "n_clean_supported": 26,
  "n_contradicted": 2,
  "n_not_found": 0,
  "n_uncertain": 2,
  "n_superseded": 0,
  "coverage": 1.0,
  "claims": [
   {
    "claim": "Series A comprises US$250,000,000 of notes.",
    "verdict": "supported",
    "confidence": 0.99,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 1.0,
      "authority_status": null,
      "superseded": false
     }
    ]
   },
   {
    "claim": "Series A carries a 5.10% coupon.",
    "verdict": "supported",
    "confidence": 0.99,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 1.0,
      "authority_status": null,
      "superseded": false
     }
    ]
   },
   {
    "claim": "Series A has no step-up coupon.",
    "verdict": "supported",
    "confidence": 0.99,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 1.0,
      "authority_status": null,
      "superseded": false
     }
    ]
   },
   {
    "claim": "Series A matures on 15 June 2030.",
    "verdict": "supported",
    "confidence": 0.99,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 1.0,
      "authority_status": null,
      "superseded": false
     }
    ]
   },
   {
    "claim": "Series A was issued at 99.75% of principal.",
    "verdict": "supported",
    "confidence": 0.99,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 1.0,
      "authority_status": null,
      "superseded": false
     }
    ]
   },
   {
    "claim": "Series B comprises US$400,000,000 of notes.",
    "verdict": "supported",
    "confidence": 0.99,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 1.0,
      "authority_status": null,
      "superseded": false
     }
    ]
   },
   {
    "claim": "Series B carries an initial coupon of 6.40%.",
    "verdict": "supported",
    "confidence": 0.99,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 1.0,
      "authority_status": null,
      "superseded": false
     }
    ]
   },
   {
    "claim": "Series B coupon steps to 7.75% for interest periods commencing on or after 15 March 2028.",
    "verdict": "contradicted",
    "confidence": 0.99,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge"
    ],
    "reason_code": "contradicts_current_source",
    "evidence": [
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 1.3,
      "authority_status": null,
      "superseded": false
     }
    ]
   },
   {
    "claim": "Series B matures on 15 March 2033.",
    "verdict": "supported",
    "confidence": 0.99,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 1.0,
      "authority_status": null,
      "superseded": false
     }
    ]
   },
   {
    "claim": "Series B is optionally redeemable at 98.90% plus accrued interest.",
    "verdict": "uncertain",
    "confidence": null,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge",
     "fulltext_fallback"
    ],
    "reason_code": "judgment_call",
    "evidence": [
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 0.1429,
      "authority_status": null,
      "superseded": false
     },
     {
      "memory_id": "c8bd451f-a83d-4fa9-8b0b-9fe076380cee",
      "content": "| Payment date | Principal repaid | Outstanding after payment |\n| --- | --- | --- |\n| 15 March 2031 | US$100,000,000 | US$300,000,000 |\n| 15 March 2032 | US$150,000,000 | US$150,000,000 |\n| 15 March 2033 | US$150,000,000 | US$0 | Series A and Series C are bullet maturities and do not amortize. Optional redemption of any series may be exercised in whole or in part on any interest payment date at the optional redemption price set out in the Series terms table, plus accrued and unpaid interest. ## Events of default The indenture provides for customary events of default, including non-payment of principal or interest, breach of the net leverage covenant continuing for 30 days after notice, and cross-acceleration to indebtedness in excess of US$25,000,000.",
      "relevance_score": 0.125,
      "authority_status": null,
      "superseded": false
     }
    ],
    "note": "reviewed against the complete text of the controlling instrument and still not confirmable either way \u2014 likely a judgment call or an overstated claim; flagged for human review"
   },
   {
    "claim": "Series C comprises US$150,000,000 of notes.",
    "verdict": "supported",
    "confidence": 0.99,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 1.0,
      "authority_status": null,
      "superseded": false
     }
    ]
   },
   {
    "claim": "Series C carries a 6.00% coupon.",
    "verdict": "supported",
    "confidence": 0.99,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 1.0,
      "authority_status": null,
      "superseded": false
     }
    ]
   },
   {
    "claim": "Series C has no step-up coupon.",
    "verdict": "supported",
    "confidence": 0.99,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 1.0,
      "authority_status": null,
      "superseded": false
     }
    ]
   },
   {
    "claim": "Series C matures on 15 March 2033.",
    "verdict": "uncertain",
    "confidence": 0.99,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge",
     "conflict_recheck",
     "conflict_downgrade"
    ],
    "reason_code": "conflicting_sources",
    "evidence": [
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 0.5,
      "authority_status": null,
      "superseded": false
     }
    ],
    "note": "the corpus contains conflicting sources/versions for this claim (some support it, some refute it); reported as a conflict, not a confident contradiction \u2014 scope the review to the controlling version to resolve"
   },
   {
    "claim": "Series C was issued at 100.00% of principal.",
    "verdict": "supported",
    "confidence": 0.99,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 1.0,
      "authority_status": null,
      "superseded": false
     }
    ]
   },
   {
    "claim": "Series B amortizes in three installments.",
    "verdict": "supported",
    "confidence": 0.99,
    "superseded": false,
    "recovered": true,
    "route": [
     "passage_judge",
     "count_guard",
     "count_guard:confirmed",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 0.0,
      "authority_status": null,
      "superseded": false
     },
     {
      "memory_id": "c8bd451f-a83d-4fa9-8b0b-9fe076380cee",
      "content": "| Payment date | Principal repaid | Outstanding after payment |\n| --- | --- | --- |\n| 15 March 2031 | US$100,000,000 | US$300,000,000 |\n| 15 March 2032 | US$150,000,000 | US$150,000,000 |\n| 15 March 2033 | US$150,000,000 | US$0 | Series A and Series C are bullet maturities and do not amortize. Optional redemption of any series may be exercised in whole or in part on any interest payment date at the optional redemption price set out in the Series terms table, plus accrued and unpaid interest. ## Events of default The indenture provides for customary events of default, including non-payment of principal or interest, breach of the net leverage covenant continuing for 30 days after notice, and cross-acceleration to indebtedness in excess of US$25,000,000.",
      "relevance_score": 0.0,
      "authority_status": null,
      "superseded": false
     }
    ],
    "note": "count claim: total re-verified by an enumerate-and-count review against the complete text of the controlling instrument"
   },
   {
    "claim": "Series B first amortization payment of US$100,000,000 falls due on 15 March 2031.",
    "verdict": "supported",
    "confidence": 0.99,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "c8bd451f-a83d-4fa9-8b0b-9fe076380cee",
      "content": "| Payment date | Principal repaid | Outstanding after payment |\n| --- | --- | --- |\n| 15 March 2031 | US$100,000,000 | US$300,000,000 |\n| 15 March 2032 | US$150,000,000 | US$150,000,000 |\n| 15 March 2033 | US$150,000,000 | US$0 | Series A and Series C are bullet maturities and do not amortize. Optional redemption of any series may be exercised in whole or in part on any interest payment date at the optional redemption price set out in the Series terms table, plus accrued and unpaid interest. ## Events of default The indenture provides for customary events of default, including non-payment of principal or interest, breach of the net leverage covenant continuing for 30 days after notice, and cross-acceleration to indebtedness in excess of US$25,000,000.",
      "relevance_score": 1.0,
      "authority_status": null,
      "superseded": false
     },
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 0.25,
      "authority_status": null,
      "superseded": false
     }
    ]
   },
   {
    "claim": "Series B second amortization payment of US$150,000,000 falls due on 15 March 2032.",
    "verdict": "supported",
    "confidence": 0.99,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "c8bd451f-a83d-4fa9-8b0b-9fe076380cee",
      "content": "| Payment date | Principal repaid | Outstanding after payment |\n| --- | --- | --- |\n| 15 March 2031 | US$100,000,000 | US$300,000,000 |\n| 15 March 2032 | US$150,000,000 | US$150,000,000 |\n| 15 March 2033 | US$150,000,000 | US$0 | Series A and Series C are bullet maturities and do not amortize. Optional redemption of any series may be exercised in whole or in part on any interest payment date at the optional redemption price set out in the Series terms table, plus accrued and unpaid interest. ## Events of default The indenture provides for customary events of default, including non-payment of principal or interest, breach of the net leverage covenant continuing for 30 days after notice, and cross-acceleration to indebtedness in excess of US$25,000,000.",
      "relevance_score": 0.5,
      "authority_status": null,
      "superseded": false
     },
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 0.1667,
      "authority_status": null,
      "superseded": false
     }
    ]
   },
   {
    "claim": "Series B principal amount of US$150,000,000 remains outstanding after 15 March 2032 payment and is repaid at maturity.",
    "verdict": "supported",
    "confidence": 0.99,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "c8bd451f-a83d-4fa9-8b0b-9fe076380cee",
      "content": "| Payment date | Principal repaid | Outstanding after payment |\n| --- | --- | --- |\n| 15 March 2031 | US$100,000,000 | US$300,000,000 |\n| 15 March 2032 | US$150,000,000 | US$150,000,000 |\n| 15 March 2033 | US$150,000,000 | US$0 | Series A and Series C are bullet maturities and do not amortize. Optional redemption of any series may be exercised in whole or in part on any interest payment date at the optional redemption price set out in the Series terms table, plus accrued and unpaid interest. ## Events of default The indenture provides for customary events of default, including non-payment of principal or interest, breach of the net leverage covenant continuing for 30 days after notice, and cross-acceleration to indebtedness in excess of US$25,000,000.",
      "relevance_score": 1.3,
      "authority_status": null,
      "superseded": false
     },
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 0.325,
      "authority_status": null,
      "superseded": false
     }
    ]
   },
   {
    "claim": "Series A is a bullet maturity.",
    "verdict": "supported",
    "confidence": 0.99,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "c8bd451f-a83d-4fa9-8b0b-9fe076380cee",
      "content": "| Payment date | Principal repaid | Outstanding after payment |\n| --- | --- | --- |\n| 15 March 2031 | US$100,000,000 | US$300,000,000 |\n| 15 March 2032 | US$150,000,000 | US$150,000,000 |\n| 15 March 2033 | US$150,000,000 | US$0 | Series A and Series C are bullet maturities and do not amortize. Optional redemption of any series may be exercised in whole or in part on any interest payment date at the optional redemption price set out in the Series terms table, plus accrued and unpaid interest. ## Events of default The indenture provides for customary events of default, including non-payment of principal or interest, breach of the net leverage covenant continuing for 30 days after notice, and cross-acceleration to indebtedness in excess of US$25,000,000.",
      "relevance_score": 1.0,
      "authority_status": null,
      "superseded": false
     }
    ]
   },
   {
    "claim": "Series C is a bullet maturity.",
    "verdict": "supported",
    "confidence": 0.99,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "c8bd451f-a83d-4fa9-8b0b-9fe076380cee",
      "content": "| Payment date | Principal repaid | Outstanding after payment |\n| --- | --- | --- |\n| 15 March 2031 | US$100,000,000 | US$300,000,000 |\n| 15 March 2032 | US$150,000,000 | US$150,000,000 |\n| 15 March 2033 | US$150,000,000 | US$0 | Series A and Series C are bullet maturities and do not amortize. Optional redemption of any series may be exercised in whole or in part on any interest payment date at the optional redemption price set out in the Series terms table, plus accrued and unpaid interest. ## Events of default The indenture provides for customary events of default, including non-payment of principal or interest, breach of the net leverage covenant continuing for 30 days after notice, and cross-acceleration to indebtedness in excess of US$25,000,000.",
      "relevance_score": 1.0,
      "authority_status": null,
      "superseded": false
     }
    ]
   },
   {
    "claim": "The aggregate principal amount issued under the Global Notes Program is US$900,000,000.",
    "verdict": "contradicted",
    "confidence": 0.99,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge"
    ],
    "reason_code": "contradicts_current_source",
    "evidence": [
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 1.0,
      "authority_status": null,
      "superseded": false
     }
    ]
   },
   {
    "claim": "The Global Notes Program has a total capacity of US$1,000,000,000.",
    "verdict": "supported",
    "confidence": 0.99,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 1.0,
      "authority_status": null,
      "superseded": false
     }
    ]
   },
   {
    "claim": "The notes are governed by New York law.",
    "verdict": "supported",
    "confidence": 0.99,
    "superseded": false,
    "recovered": true,
    "route": [
     "passage_judge",
     "fulltext_fallback",
     "fulltext_fallback:adopted",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 0.0,
      "authority_status": null,
      "superseded": false
     }
    ],
    "note": "settled by full-source review: judged against the complete text of the controlling instrument (as amended)"
   },
   {
    "claim": "The notes rank pari passu among themselves.",
    "verdict": "supported",
    "confidence": 0.99,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 1.0,
      "authority_status": null,
      "superseded": false
     }
    ]
   },
   {
    "claim": "The indenture contains a net leverage maintenance covenant.",
    "verdict": "supported",
    "confidence": 0.99,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 1.0,
      "authority_status": null,
      "superseded": false
     }
    ]
   },
   {
    "claim": "The net leverage maintenance covenant is tested quarterly.",
    "verdict": "supported",
    "confidence": 0.99,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 1.0,
      "authority_status": null,
      "superseded": false
     }
    ]
   },
   {
    "claim": "The net leverage maintenance covenant has a maximum of 3.00x.",
    "verdict": "supported",
    "confidence": 0.99,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "807dcb83-acfa-4656-962d-d3edb3791172",
      "content": "# Global Notes Program \u2014 Series Terms and Amortization Schedule This offering memorandum supplement sets out the definitive terms of the three series of senior notes issued under the US$1,000,000,000 Global Notes Program of Meridian Capital Holdings Ltd. The notes are senior unsecured obligations, rank pari passu among themselves, and are governed by the laws of the State of New York. The indenture contains a net leverage maintenance covenant tested quarterly at a maximum of 3.00x. The aggregate principal amount issued across the three series is US$800,000,000. ## Series terms\n| Series | Principal amount | Initial coupon | Coupon step (from 15 March 2028) | Maturity | Issue price | Optional redemption price |\n| --- | --- | --- | --- | --- | --- | --- |\n| Series A | US$250,000,000 | 5.10% | none | 15 June 2030 | 99.75% | 100.00% |\n| Series B | US$400,000,000 | 6.40% | 7.25% | 15 March 2033 | 98.90% | 101.00% |\n| Series C | US$150,000,000 | 6.00% | none | 30 June 2031 | 100.00% | 100.50% | Interest on each series is payable semi-annually in arrears. The coupon step applicable to Series B takes effect for interest periods commencing on or after 15 March 2028 and applies for the remaining life of that series. No coupon step applies to Series A or Series C. ## Series B amortization Series B amortizes in three installments prior to maturity, as follows:",
      "relevance_score": 1.0,
      "authority_status": null,
      "superseded": false
     }
    ]
   },
   {
    "claim": "Events of default include cross-acceleration to indebtedness exceeding US$25,000,000.",
    "verdict": "supported",
    "confidence": 0.99,
    "superseded": false,
    "recovered": true,
    "route": [
     "passage_judge",
     "fulltext_fallback",
     "fulltext_fallback:adopted",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "c8bd451f-a83d-4fa9-8b0b-9fe076380cee",
      "content": "| Payment date | Principal repaid | Outstanding after payment |\n| --- | --- | --- |\n| 15 March 2031 | US$100,000,000 | US$300,000,000 |\n| 15 March 2032 | US$150,000,000 | US$150,000,000 |\n| 15 March 2033 | US$150,000,000 | US$0 | Series A and Series C are bullet maturities and do not amortize. Optional redemption of any series may be exercised in whole or in part on any interest payment date at the optional redemption price set out in the Series terms table, plus accrued and unpaid interest. ## Events of default The indenture provides for customary events of default, including non-payment of principal or interest, breach of the net leverage covenant continuing for 30 days after notice, and cross-acceleration to indebtedness in excess of US$25,000,000.",
      "relevance_score": 0.0,
      "authority_status": null,
      "superseded": false
     }
    ],
    "note": "settled by full-source review: judged against the complete text of the controlling instrument (as amended)"
   },
   {
    "claim": "Events of default include covenant breach continuing for 30 days after notice.",
    "verdict": "supported",
    "confidence": 0.95,
    "superseded": false,
    "recovered": false,
    "route": [
     "passage_judge",
     "table_evidence"
    ],
    "reason_code": "supported_by_current_source",
    "evidence": [
     {
      "memory_id": "c8bd451f-a83d-4fa9-8b0b-9fe076380cee",
      "content": "| Payment date | Principal repaid | Outstanding after payment |\n| --- | --- | --- |\n| 15 March 2031 | US$100,000,000 | US$300,000,000 |\n| 15 March 2032 | US$150,000,000 | US$150,000,000 |\n| 15 March 2033 | US$150,000,000 | US$0 | Series A and Series C are bullet maturities and do not amortize. Optional redemption of any series may be exercised in whole or in part on any interest payment date at the optional redemption price set out in the Series terms table, plus accrued and unpaid interest. ## Events of default The indenture provides for customary events of default, including non-payment of principal or interest, breach of the net leverage covenant continuing for 30 days after notice, and cross-acceleration to indebtedness in excess of US$25,000,000.",
      "relevance_score": 1.3,
      "authority_status": null,
      "superseded": false
     }
    ]
   }
  ],
  "extraction_capped": false,
  "as_of": "2026-08-08T20:08:00.806329",
  "request_id": null,
  "n_recovered": 3,
  "llm_calls": 34
 },
 "completeness": null,
 "completeness_status": "not_assessed",
 "seeded_scoring": [
  {
   "kind": "wrong_derived_total",
   "original": "for an aggregate principal amount of US$800,000,000",
   "corrupted": "for an aggregate principal amount of US$900,000,000",
   "ground_truth": "US$250M + US$400M + US$150M = US$800,000,000; the total is stated in prose AND derivable from the Series terms table's Principal column",
   "matched_claims": 1,
   "verdicts": [
    "contradicted"
   ],
   "matched_texts": [
    "The aggregate principal amount issued under the Global Notes Program is US$900,000,000."
   ],
   "caught": true,
   "false_supported": false,
   "unmatched": false
  },
  {
   "kind": "wrong_cell_value",
   "original": "which steps to 7.25% for interest periods commencing on or after 15 March 2028",
   "corrupted": "which steps to 7.75% for interest periods commencing on or after 15 March 2028",
   "ground_truth": "Series terms table, row 'Series B', column 'Coupon step (from 15 March 2028)': 7.25%",
   "matched_claims": 1,
   "verdicts": [
    "contradicted"
   ],
   "matched_texts": [
    "Series B coupon steps to 7.75% for interest periods commencing on or after 15 March 2028."
   ],
   "caught": true,
   "false_supported": false,
   "unmatched": false
  },
  {
   "kind": "wrong_column_lookup",
   "original": "optionally redeemable at 101.00% plus accrued interest",
   "corrupted": "optionally redeemable at 98.90% plus accrued interest",
   "ground_truth": "98.90% is Series B's ISSUE PRICE (adjacent column); the optional redemption price is 101.00%",
   "matched_claims": 1,
   "verdicts": [
    "uncertain"
   ],
   "matched_texts": [
    "Series B is optionally redeemable at 98.90% plus accrued interest."
   ],
   "caught": true,
   "false_supported": false,
   "unmatched": false
  },
  {
   "kind": "wrong_row_lookup",
   "original": "Series C ... maturing on 30 June 2031",
   "corrupted": "Series C ... maturing on 15 March 2033",
   "ground_truth": "15 March 2033 is Series B's maturity (adjacent row); Series C matures 30 June 2031",
   "matched_claims": 7,
   "verdicts": [
    "contradicted",
    "supported",
    "uncertain"
   ],
   "matched_texts": [
    "Series A matures on 15 June 2030.",
    "Series B coupon steps to 7.75% for interest periods commencing on or after 15 March 2028.",
    "Series B matures on 15 March 2033.",
    "Series C matures on 15 March 2033.",
    "Series B first amortization payment of US$100,000,000 falls due on 15 March 2031.",
    "Series B second amortization payment of US$150,000,000 falls due on 15 March 2032.",
    "Series B principal amount of US$150,000,000 remains outstanding after 15 March 2032 payment and is repaid at maturity."
   ],
   "caught": true,
   "false_supported": false,
   "unmatched": false
  }
 ],
 "seeded_scoring_note": "re-scored 2026-08-08 with the diff-token matcher (eval audit); see dogfood_domain.score_seeded"
}