Notice of Redemption
December 10 2009 - 10:32AM
UK Regulatory
TIDM35QA
RNS Number : 9427D
Permanent Financing (No.3) PLC
10 December 2009
RNS ANNOUNCEMENT
PERMANENT FINANCING (NO. 3) PLC (the Third Issuer)
NOTICE OF REDEMPTION
$1,500,000,000 Series 3 Class A Asset Backed Floating Rate Notes due September
2033 (ISIN: US71419MAG24 - Common Code: 018085739 - CUSIP: 71419MAG2
GBP400,000,000 Series 5 Class A Asset Backed 5.521% Fixed Rate Notes due June
2042 (ISIN: XS0179401806 - Common Code: 017940180 - CUSIP: N/A)
EUR20,000,000
Series 5 Class B Asset Backed Floating Rate Notes due June 2042 (ISIN:
XS0179402796 - Common Code: 017940279 - CUSIP: N/A)
EUR20,000,000 Series 5
Class C Asset Backed Floating Rate Notes due June 2042 (ISIN: XS0179403257 -
Common Code: 017940325 - CUSIP: N/A)
each issued by the Third Issuer
(the Third Issuer Notes and the holders
thereof the Noteholders)
constituted by a Trust Deed dated 25 November 2003 between the Third
Issuer
and The Bank of New York Mellon (the Trustee) as trustee for the
Noteholders (the Note Trustee)
10 December 2009
Notice is given by the Third Issuer to the Noteholders that the Seller on the
Funding 1 Interest Payment Date that occurred on 10 December 2009 made a payment
to Funding 1 pursuant to Clause 7.1(a) of the Mortgages Trust Deed in an amount
which together with the Funding 1 Available Principal Receipts that were
available to Funding 1 in accordance with the Funding 1 Pre-Enforcement
Principal Priority of Payments was sufficient to enable Funding 1 to:
repay the final Scheduled Amortisation Instalment in respect of the Fourth
Issuer Series 4 Term AAA Advance, the Fourth Issuer Series 4 Term AA Advance and
the Fourth Issuer Series 4 Term A Advance due under the Fourth Issuer
Intercompany Loan Agreement which enabled the Fourth Issuer to redeem the
following Fourth Issuer Notes in full on the Interest Payment Date that occurred
on 10 December 2009:
EUR1,500,000,000 Series 4 Class A Asset Backed Floating Rate Notes due March 2034;
EUR85,000,000 Series 4 Class B Asset Backed Floating Rate Notes due June 2042; and
EUR62,500,000 Series 4 Class M Asset Backed Floating Rate Notes due June 2042;
repay the final Scheduled Amortisation Instalment in respect of the Fifth Issuer
Series 4 Term AAA Advance, the Fifth Issuer Series 4 Term AA Advance and the
Fifth Issuer Series 4 Term BBB Advance due under the Fifth Issuer Intercompany
Loan Agreement which enabled the Fifth Issuer to redeem the following Fifth
Issuer Notes in full on the Interest Payment Date that occurred on 10 December
2009:
EUR1,000,000,000 Series 4 Class A Asset Backed Floating Rate Notes due June 2042;
EUR43,500,000 Series 4 Class B Asset Backed Floating Rate Notes due June 2042; and
EUR36,000,000 Series 4 Class C Asset Backed Floating Rate Notes due June 2042;
repay the final Scheduled Amortisation Instalment in respect of the Sixth Issuer
Series 4 Term AAA Advance due under the Sixth Issuer Intercompany Loan Agreement
which enabled the Sixth Issuer to redeem the following Sixth Issuer Notes in
part on the Interest Payment Date that occurred on 10 December 2009:
EUR750,000,000 Series 4 Class A Asset Backed Floating Rate Notes due June 2042;
and
repay the Scheduled Amortisation Instalment in respect of the Seventh Issuer
Series 3 Term AAA Advance due under the Seventh Issuer Intercompany Loan
Agreement which enabled the Seventh Issuer to redeem the following Seventh
Issuer Notes in part on the Interest Payment Date that occurred on 10 December
2009:
EUR1,700,000,000 Series 3 Class A Asset Backed Floating Rate Notes due September
2032.
All defined terms used in this notice shall have the meaning given to them in
the Fourth Issuer Master Definitions and Construction Schedule dated 12 March
2004, the Fifth Issuer Master Definitions and Construction Schedule dated 22
July 2004, the Sixth Issuer Master Definitions and Construction Schedule dated
18 November 2004, the Seventh Issuer Master Definitions and Construction
Schedule dated 23 March 2005 and the Amended and Restated Master Definitions and
Construction Schedule dated 24 September 2009 (as applicable).
For further information please contact:
Bank of Scotland plc
Structured Securitisation Group
10 Gresham Street
London
EC2V 7AE
Attention: Gavin Parker
This information is provided by RNS
The company news service from the London Stock Exchange
END
STREASAEFDFNFFE
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