REG - Hercules Eclipse06-4 - Notice to Noteholder
RNS Number : 3813THercules(Eclipse 2006-4)plc17 July 2020Company Name:- Hercules (Eclipse 2006-4) plc
Headline:- Ashbourne Portfolio Whole Loan - Sale of Trading Care Homes
Date:- 17 July 2020
HERCULES (ECLIPSE 2006-4) PLC
a public limited company incorporated in England and Wales with company registration number 5895593
(the "Issuer")
NOTICE TO THE HOLDERS OF
£666,000,000 Class A Commercial Mortgage Backed Floating Rate Notes due 2018
ISIN (Reg S Notes) XS0276410080£43,950,000 Class B Commercial Mortgage Backed Floating Rate Notes due 2018
ISIN (Reg S Notes) XS0276410833£25,000,000 Class C Commercial Mortgage Backed Floating Rate Notes due 2018
ISIN (Reg S Notes) XS0276412375£51,000,000 Class D Commercial Mortgage Backed Floating Rate Notes due 2018
ISIN (Reg S Notes) XS0276413183£29,000,000 Class E Commercial Mortgage Backed Floating Rate Notes due 2018
ISIN (Reg S Notes) XS0276413340(together, the "Notes")
The Notes are admitted to the official list of the Irish Stock Exchange plc and to trading on its regulated market.
Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 (market abuse regulation) requires disclosure by or on behalf of the Issuer of any inside information concerning the Issuer. The EU Market Abuse Regulation (596/2014) requires disclosure of inside information relating to the Issuer.
The Special Servicer has made the following information available to the Issuer. The Issuer notes that it has not been involved in the preparation of this information and in accordance with normal practice, the Issuer expresses no opinion in respect of the information contained in this Notice. Furthermore, this Notice is issued without prejudice to any and all of the Issuer's rights under the Transaction Documents relating to the Notes, all of which are expressly reserved.
This Notice is solely directed to the holders of the Notes ("Noteholders") and should not be relied upon or used by any other person.
Please note that, in accordance with normal practice, neither the Trustee nor any of its advisors has been consulted or involved in the formulation or negotiation of the matters contemplated by this Notice or has verified the information contained in any part of this Notice.
Further neither the Trustee nor any of its advisors expresses any opinion as to the merits or purpose of the matters contemplated by this Notice or as to the action the Noteholders should take in relation to them.
Neither the Trustee nor any of its advisors makes any representation regarding the accuracy, sufficiency, relevance or otherwise of any information contained in this Notice or otherwise disclosed or to be disclosed to the Noteholders in connection with the matters contemplated by this Notice or that all relevant information has been disclosed to Noteholders in this Notice or otherwise. Neither the Trustee nor any of its advisors accepts any liability in relation to the matters contemplated by this Notice. Accordingly, the Trustee urges Noteholders who are in any doubt as to the impact of the matters contemplated by this Notice to seek their own independent financial and/or legal advice.
Capitalised terms used but not defined in this Notice shall have the meanings given to them in the Prospectus dated 5 December 2006 issued by the Issuer (the "Prospectus").
Background
The Special Servicer refers Noteholders to the RIS announcement relating to the Issuer and released on the Irish Stock Exchange website on 20 May 2020 (the "20 May Announcement).
In the 20 May Announcement, the Special Servicer affirmed to Noteholders that, among other things, that in addition to the five closed homes presently being marketed (or being prepared for marketing) for sale, that twenty-two trading care homes are currently being marketed for sale.
Sale of trading care homes
Subsequent to the 20 May Announcement, the disposal of a further two trading care homes for a total gross sale consideration of £5m was completed on the 17 July 2020, with the details shown below.
Property Name
Location
Gross Sale Price
Chaplin Lodge
Wickford
£2,000,000
Memory House
Leigh-on-Sea
£3,000,000
Following the deduction of the various costs from the sale consideration, the net sale proceeds will be available for application down the loan waterfall by the Agent at the October 2020 Loan Payment Date.
FURTHER UPDATES
The Special Servicer continues to evaluate various options in relation to maximising recoveries under the Priority A Loan. The Special Servicer will continue to update the Issuer as the process develops.
Special Servicer contact:
Link Asset Services (London) Limited
6th Floor, 65 Gresham Street
London EC2V 7NQ
E-mail: rob.hook@linkgroup.co.ukBy:
Hercules (ECLIPSE 2006-4) plc
1 Bartholomew Lane
London EC2N 2AX
(in its capacity as Issuer)cc:
BNY Mellon Corporate Trustee Services Limited
One Canada Square
London E14 5AL
(in its capacity as Trustee)Date: 17 July 2020
This announcement has been issued through the Companies Announcement Service of Euronext Dublin.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.ENDISERRMBTMTABBBM
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