REG - TaurusCMBS(UK)2006-2 - Notice to Noteholders

Euronext NVAnnouncement

24/02/2020 17:25

RNS Number : 9550D
  
Taurus CMBS (UK) 2006-2 Plc
  
24 February 2020
  
 

RIS NOTIFICATION
To:       The Irish Stock Exchange plc, trading as Euronext Dublin

Exchange Building, Foster Place
Dublin 2

Ireland
 
Attention: Regulatory Information Services
 
Date:   24 February 2020
COMPANY ANNOUNCEMENT
In relation to Taurus cmbs (UK) 2006-2 P.L.C.
£364,000,000 Class A Commercial Mortgage Backed Floating Rate Notes due 2024
£50,000 Class X Commercial Mortgage Backed Variable Rate Note due 2024
£40,100,000 Class B Commercial Mortgage Backed Floating Rate Notes due 2024
£36,000,000 Class C Commercial Mortgage Backed Floating Rate Notes due 2024
£7,000,000 Class D Commercial Mortgage Backed Floating Rate Notes due 2024

(being together, the "Notes")
issued by
Taurus cmbs (UK) 2006-2 P.L.C. (the "Issuer")
 
A public limited company incorporated in Ireland with registered number 424421 on 2 August 2006
 
The Notes are admitted to trading on the regulated market of The Irish Stock Exchange plc trading as Euronext Dublin. 
 
The following announcement has been prepared by and issued at the request of the Servicer. The Issuer has not independently verified the information contained in this announcement.
 
Capitalised terms used in this notice but not defined herein shall have the meanings ascribed to such terms in the Offering Circular in respect of the Notes dated 16 November 2006.
Updated Valuation
 
As noted in the Company Announcement dated 4 December 2019 with RNS number 6693V, the Servicer commissioned a valuation of the Mapeley Properties (the "Updated Valuation").
 
Based on the Updated Valuation, as at 31 December 2019:
 
·    the market value of the Mapeley Properties is: £262,895,000.00; and
·    the vacant possession of the Mapeley Properties is: £230,260,500.00.
 
Loan-to-Value ratio
 
On the basis of:
 
(i)         the current loan balance as at 21 February 2020 being £102,510,773.05;
 
a.   the Loan to market value of the Mapeley Properties as set out in the Updated Valuation is 39.00 per cent.; and
 
b.   the Loan to vacant possession value of the Mapeley Properties as set out in the Updated Valuation is 45.00 per cent.. 
 
If Noteholders have any questions they should contact Grant Tough of Link Asset Services (UK) Limited on +44 207 204 7925 or by email: grant.tough@linkgroup.co.uk.
 
Notice is given by:
 
 
 
 Link Asset Services (UK) Limited
 
as Servicer of the Issuer
 
 
This announcement has been issued through the Companies Announcement Service of Euronext Dublin.
 


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