REG - Molineux RMBS 2016-1 - Notice to Noteholders

Deutsche Bank AGAnnouncement

18/11/2021 14:35

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RNS Number : 8621S  Molineux RMBS 2016-1 PLC  18 November 2021

 

RNS NOTICE

 

MOLINEUX RMBS 2016-1 PLC

(incorporated in England and Wales, registered no. 10011093, 1 Bartholomew
Lane, London, England, EC2N 2AX)

 

18 November 2021

 

£600,000,000 Class A1 Mortgage Backed Floating Rate Notes due 2063 (ISIN
XS1379584227)

£1,209,600,000 Class A2 Mortgage Backed Floating Rate Notes due 2063 (ISIN
XS1379585034)

£127,600,000 Class B Mortgage Backed Floating Rate Notes due 2063 (ISIN
XS1379585380)

£87,000,000 Class C Mortgage Backed Floating Rate Notes due 2063
(ISIN XS1379586198)

£75,400,000 Class D Mortgage Backed Floating Rate Notes due 2063
(ISIN XS1379586602)

£220,400,000 Class Z Mortgage Backed Floating Rate Notes due 2063 (ISIN
XS1379586784) (together, the "Notes")

 

AMENDMENTS TO THE TRANSACTION NOTICE IS HEREBY GIVEN THAT:

The following modifications have been made to certain Transaction Documents
including certain related and consequential amendments necessary to give
effect to the main amendments described below. The modifications became
effective on or about the date hereof.

Capitalised terms used, but not defined, herein shall have the meanings given
to them in the Incorporated Terms Memorandum relating to the Notes dated 30
March 2016 (as the same may be amended, restated, varied and/or supplemented
from time to time) (the "Incorporated Terms Memorandum").

 

Cessation of LIBOR

The Relevant Documents have been amended to change the reference rate in
anticipation of the cessation or discontinuance of LIBOR. Specifically:

(a)  certain changes have been made to the Trust Deed and the Conditions to
allow for interest payable on the Notes to be calculated by reference to
Compounded Daily SONIA, a change in the Relevant Margin and to include
provisions permitting for future base rate modifications to be made without
the consent of the Noteholders (subject to certain conditions);

(b)  the Account Bank Agreement has been amended to change the interest rate
on the relevant accounts from LIBOR to Bank of England Base Rate;

(c)  the Subordinated Loan Agreement has been amended to change the interest
rate from LIBOR to Compounded Daily SONIA and the margin has been
amended; and

(d)  the confirmation under the Interest Rate Swap Agreement (the "Swap
Confirmation") has been amended and restated to change references from
GBP-LIBOR-BBA to Compounded Daily SONIA (as defined in the amended and
restated Swap Confirmation).

 
 

Amendments to the Transaction Documents

In order to implement the amendments, the following Transaction Documents have
been amended by amendment deeds (other than the Swap Confirmation, which is
being amended and restated):

(a)  Incorporated Terms Memorandum;

(b)  Trust Deed;

(c)  Account Bank Agreement;

(d)  Subordinated Loan Agreement; and

(e)  the Swap Confirmation; and (together, the "Relevant Documents").

 

Copies of the Relevant Documents will be available for inspection by
Noteholders at the specified offices of the Principal Paying Agent set out
below:

Deutsche Bank AG, London Branch Winchester House,

1 Great Winchester Street, London EC2N 2DB

 

For further information, please contact:

Molineux RMBS 2016-1 Plc

c/o Intertrust Corporate Services Limited 1 Bartholomew Lane

London EC2N 2AX

 

DISCLAIMER - INTENDED ADDRESSEES

Please note that the information contained in this announcement may be
addressed to and/or targeted at persons who are residents of particular
countries (specified in the Prospectus) only and is not intended for use and
should not be relied upon by any person outside these countries and/or to whom
the offer contained in the Prospectus is not addressed. Prior to relying on
the information contained in the Prospectus you must ascertain from the
Prospectus whether or not you are part of the intended addressees of the
information contained therein.

 

Your right to access this service is conditional upon complying with the above
requirement.

 

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