REG - Taurus 2019-3 UK DAC - Notice
RNS Number : 4394JTaurus 2019-3 UK DAC09 April 2020RIS NOTIFICATION
To: Euronext Dublin
28 Anglesea Street
Dublin 2
Ireland
Attention: Regulatory Information Services
9 April 2020
COMPANY ANNOUNCEMENT
In relation to:
TAURUS 2019-3 UK DAC
3rd Floor Fleming Court,
Fleming's Place,
Dublin 4,
Ireland
(the "Issuer")£119,000,000 Class A Commercial Backed Floating Rate Notes Due 2029, ISIN XS2061852104
£100,000 Class X Commercial Backed Floating Rate Notes Due 2029, ISIN XS2061852286
£39,500,000 Class B Commercial Backed Floating Rate Notes Due 2029, ISIN XS2061852369
£30,500,000 Class C Commercial Backed Floating Rate Notes Due 2029, ISIN XS2061852799
£26,000,000 Class D Commercial Backed Floating Rate Notes Due 2029, ISIN XS2061852872
£17,223,000 Class E Commercial Backed Floating Rate Notes Due 2029, ISIN XS2061853094
(together the "Notes")
The Notes are admitted to trading on the Global Exchange Market of the Irish Stock Exchange plc trading as Euronext Dublin.
We refer to the final offering circular of the Issuer dated 14 October 2019 (the "Offering Circular"). Capitalised terms used herein and not specifically defined will have the same meaning as given to that term in the Offering Circular.
COVID-19 Statement
The Sponsor has confirmed that, during these incredibly challenging times, everything is being done to support residents and all NHS and government advice surrounding COVID-19 has been, and will continue to be followed.
Whilst all properties remain open and residents remain enrolled with their university, it is understood why many students have chosen to move out of their accommodation and make alternative arrangements to study remotely.
Subsequently, during these unprecedented times and assuming certain conditions are met including students settling any outstanding rent payments by 1 May 2020, the normal cancellation policy will be waived whereby payments from 1 May 2020 will be cancelled for all students planning to move out, or have already moved out of their student accommodation.
Furthermore for all residents across all sites who do not wish to, or cannot, move out of their student accommodation, 24/7 support will continue to ensure continuity of vital services such as broadband and receipt of deliveries which are now more important than ever.
The impact of this decision is being assessed and will be driven by the numbers of students who choose to leave, however the Sponsor believes a significant number, primarily international students, will remain in occupation with well over half the beds remaining occupied.
A review is also being undertaken to identify actions that could partially mitigate any cash shortfall, including deferring or ceasing any non-essential operational and capital expenditure.
At this stage, it is unclear how long the COVID-19 situation will persist, however the Sponsor has indicated that bookings for the Academic Year 2020/21 are progressing in-line with, if not slightly ahead of expectations.
Notice is given by:
Taurus 2019-3 UK DAC
Date of notification: 9 April 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.ENDISEBUGDSBUGDGGC
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