REG - Titan Europe 2006-5 - Notice to Noteholders
RNS Number : 2774VTitan Europe 2006-5 PLC05 August 2020
THIS NOTICE CONTAINS IMPORTANT INFORMATION THAT IS OF INTEREST TO THE REGISTERED AND BENEFICIAL OWNERS OF THE SUBJECT SECURITIES. IF APPLICABLE, ALL DEPOSITORIES, CUSTODIANS AND OTHER INTERMEDIARIES RECEIVING THIS NOTICE ARE REQUESTED TO EXPEDITE THE RE-TRANSMITTAL TO BENEFICIAL OWNERS OF THE SECURITIES IN A TIMELY MANNER. IF NOTEHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, IF ANY, THEY SHOULD CONSULT THEIR OWN INDEPENDENT PROFESSIONAL ADVISERS AUTHORISED UNDER THE FINANCIAL SERVICES AND MARKETS ACT 2000 (IF THEY ARE IN THE UNITED KINGDOM) OR ANOTHER APPROPRIATELY AUTHORISED INDEPENDENT FINANCIAL ADVISER AND TAKE SUCH OTHER ADVICE FROM THEIR OWN PROFESSIONAL, TAX AND LEGAL ADVISERS AS THEY DEEM NECESSARY, IMMEDIATELY.
Notice to Noteholders
€330,000,000 Class A1 Commercial Mortgage Backed Floating Rate Notes due July 2019
(XS0277721618/XS0277724398)
€50,000 Class X Commercial Mortgage Backed Floating Rate Notes due July 2019
(XS0277735758/XS0277736301)
€112,300,000 Class A2 Commercial Mortgage Backed Floating Rate Notes due July 2019
(XS0277725361/XS0277725874)
€61,893,000 Class A3 Commercial Mortgage Backed Floating Rate Notes due July 2019
(XS0277726500/XS0277727490)
€56,807,000 Class B Commercial Mortgage Backed Floating Rate Notes due July 2019
(XS0277728381/XS0277729272)
€43,000,000 Class C Commercial Mortgage Backed Floating Rate Notes due July 2019
(XS0277729439/XS0277731179)
€37,000,000 Class D Commercial Mortgage Backed Floating Rate Notes due July 2019
(XS0277732144/XS0277732656)
€5,000,000 Class E Commercial Mortgage Backed Floating Rate Notes due July 2019
(XS0277733548/XS0277733894)
€14,868,755 Class F Commercial Mortgage Backed Floating Rate Notes due July 2019
(XS0277734199/XS0277734785)€50,000 Class V Commercial Mortgage Backed Floating Rate Notes due July 2019
(XS0277735089/XS0277735329)
(together, the "Notes")
issued by Titan Europe 2006-5 p.l.c. (the "Issuer")
on 19 December 2006
5 August 2020
The Notes are admitted to trading on the regulated market of Euronext Dublin.
The EU Market Abuse Regulation (596/2014) of the European Parliament and of the Council of 16 April 2014 (market abuse regulation) requires disclosure of inside information by or on behalf of the Issuer of any inside information concerning the Notes.
Capitalised terms used but not otherwise defined in this notice shall have the meanings ascribed to them in the Prospectus in relation to the Notes dated 19 December 2006 or the notice of 17 July 2020 referred to below.
The following notice has been prepared by and issued at the request of the Special Servicer. The Issuer has not independently verified the information contained in this notice. Accordingly, the Issuer hereby gives notice of the following in relation to the Quartier 206 Shopping Centre Property (the "Property").
Reference is made to the notice dated 17 July 2020 whereby the Issuer gave notice of the setting of 4 August 2020 as the date on which the decision on the award in relation to the forced auction proceedings concerning the Remainder of the Property will be announced.
The Special Servicer applied for a temporary suspension of the forced auction proceedings on 3 August 2020. Therefore, the award was not granted to the highest bidder on 4 August 2020. The highest bidder did not provide any proof of funds or the requested "know-your-customer" information to the Special Servicer, but in the court's opinion, the lack of funds of this bidder was not proven. Therefore, the Special Servicer filed the application in order to prevent the ownership of the Remainder of the Property being awarded to the highest bidder in the absence of proof of funds and the requested "know-your-customer" information.
The forced auction proceedings need to be resumed within six months following the court's decision on 4 August 2020. The Special Servicer intends to resume the proceedings within such time period.
Queries may be addressed to the Special Servicer as follows:
Address: Situs International Limited
34th Floor, 25 Canada Square
London E14 5LB
E-mail: CMBSInvestors@situs.com
This notice is given by
TITAN EUROPE 2006-5 PLC
as Issuer
This announcement has been issued through the Companies Announcement Service of Euronext Dublin.
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