REG - Permanent Master Iss - Notice to Noteholders

Bank Of New York MellonAnnouncement

17/05/2023 19:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230517:nRSQ7944Za&default-theme=true

RNS Number : 7944Z  Permanent Master Issuer PLC  17 May 2023

NOTICE TO NOTEHOLDERS

 

PERMANENT MASTER ISSUER PLC

1 Bartholomew Lane,

London EC2N 2AX

(the Master Issuer)

NOTICE OF PAYMENT OF LOAN TRANCHES

£370,000,000 2015-1 Series 1 Class B Asset Backed Floating Rate Notes due
July 2075 (ISIN: XS1302959082; Common Code: 130295908) (the 2015-1 Series 1
Class B Notes)

£270,000,000 2015-1 Series 1 Class M Asset Backed Floating Rate Notes due
July 2075 (ISIN: XS1302957037; Common Code: 130295703) (the 2015-1 Series 1
Class M Notes)

£370,000,000 2015-1 Series 1 Class C Asset Backed Floating Rate Notes due
July 2075 (ISIN: XS1302936031; Common Code: 130293603) (the 2015-1 Series 1
Class C Notes

 (the Notes and the holders thereof, the Noteholders)

issued by the Master Issuer constituted by a Master Issuer Trust Deed dated 17
October 2006 (as amended) between the Master Issuer and The Bank of New York
Mellon, London Branch as trustee for the Noteholders (the Note Trustee)

17 May 2023

Notice is hereby given by the Master Issuer to the Noteholders, that the
Seller intends, on the Funding 2 Interest Payment Date occurring in July 2023,
to make a payment to Funding 2 pursuant to Clause 7.1(b)(i) of the Amended
and Restated Mortgages Trust Deed dated 24 April 2023 in an amount (the Seller
Payment Amount) which will be sufficient to enable Funding 2 to repay:

(a)        the aggregate Outstanding Principal Balance due under the
Loan Tranche corresponding to the 2015-1 Series 1 Class B Notes (the 2015-1
Series 1 AA Class B Loan Tranche) due under the Master Intercompany Loan
Agreement (as amended and restated on 1 March 2007, 21 November 2007, 15
January 2008, 24 September 2009, 6 July 2010, 11 December 2014, 14 November
2016, 3 September 2019 and 24 April 2023) and the Loan Tranche Supplement as
amended and restated on 24 April 2023 so that the Master Issuer may pay the
Redemption Amount together with any accrued and unpaid interest due on the
2015-1 Series 1 Class B Notes on or after the Call Option Date (as set out in
the applicable Final Terms) on the Funding 2 Interest Payment Date occurring
in July 2023;

(b)       the aggregate Outstanding Principal Balance due under the Loan
Tranche corresponding to the 2015-1 Series 1 Class M Notes (the 2015-1 Series
1 A Class M Loan Tranche) due under the Master Intercompany Loan Agreement
dated 17 October 2006 (as amended and restated on 1 March 2007, 21 November
2007, 15 January 2008, 24 September 2009, 6 July 2010, 11 December 2014, 14
November 2016, 3 September 2019 and 24 April 2023) and the Loan Tranche
Supplement as amended and restated on 24 April 2023 so that the Master Issuer
may pay the Redemption Amount together with any accrued and unpaid interest
due on the 2015-1 Series 1 Class M Notes on or after the Call Option Date (as
set out in the applicable Final Terms) on the Funding 2 Interest Payment Date
occurring in July 2023; and

(c)        the aggregate Outstanding Principal Balance due under the
Loan Tranche corresponding to the 2015-1 Series 1 Class C Notes (the 2015-1
Series 1 BBB Class C Loan Tranche) due under the Master Intercompany Loan
Agreement dated 17 October 2006 (as amended and restated on 1 March 2007, 21
November 2007, 15 January 2008, 24 September 2009, 6 July 2010, 11 December
2014, 14 November 2016, 3 September 2019 and 24 April 2023) and the Loan
Tranche Supplement as amended and restated on 24 April 2023 so that the Master
Issuer may pay the Redemption Amount together with any accrued and unpaid
interest due on the 2015-1 Series 1 Class C Notes on or after the Call Option
Date (as set out in the applicable Final Terms) on the Funding 2 Interest
Payment Date occurring in July 2023.

Terms otherwise not defined in this notice shall have the meaning given to
them in the terms and conditions of the Notes (the Conditions).

For further information please contact:

Bank of Scotland plc

Group Corporate Treasury

25 Gresham Street

London EC2V 7HN

Attention: Gavin Parker, Head of Securitisation and Collateral

By: Permanent Master Issuer PLC

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCUBUBROSUVAAR