TIDM91AG
RNS Number : 9443D
Permanent Master Issuer PLC
10 December 2009
RNS ANNOUNCEMENT
PERMANENT MASTER ISSUER PLC (the Master Issuer)
NOTICE OF REDEMPTION
CAN$350,000,000 Series 3 Class A Asset Backed Floating Rate Notes due July 2033
(ISIN: CAG7014RAQ51 - Common Code: 027124968 - CUSIP:
G7014RAQ5)
EUR1,750,000,000 Series 4 Class A2 Asset Backed Floating Rate Notes
due July 2033 (ISIN: XS0270510653 - Common Code: 027051065 - CUSIP:
N/A)
$1,500,000,000 Series 5 Class A Asset Backed Floating Rate Notes due
July 2033 (ISIN: US71419GAG55 - Common Code: 027124623 - CUSIP:
71419GAG5)
GBP500,000,000 Series 6 Class A1 Asset Backed Floating Rate Notes
due April 2020 (ISIN: XS0270511628 - Common Code: 027051162 - CUSIP:
N/A)
GBP600,000,000 Series 6 Class A2 Asset Backed Floating Rate Notes due
April 2020 (ISIN: XS0270512279 - Common Code: 027051227 - CUSIP:
N/A)
EUR129,300,000 Series 4 Class B Asset Backed Floating Rate Notes due July
2042 (ISIN: XS0270510810 - Common Code: 027051081 - CUSIP: N/A)
EUR129,300,000
Series 4 Class C Asset Backed Floating Rate Notes due July 2042 (ISIN:
XS0270511115 - Common Code: 027051111 - CUSIP: N/A)
(together, the 2006-1 Notes)
$1,500,000,000 Series 2 Class A1 Asset Backed Floating Rate Notes due January
2016 (ISIN: US71419GAJ94 - Common Code: 28918941 - CUSIP:
71419GAJ9)
$1,000,000,000 Series 2 Class A2 Asset Backed Floating Rate Notes
due January 2016 (ISIN: US71419GAK67 - Common Code: 28919026 - CUSIP:
71419GAK6)
EUR1,500,000,000 Series 3 Class A Asset Backed Floating Rate Notes
due October 2033 (ISIN: XS0288090342 - Common Code: 28809034 - CUSIP:
N/A)
$1,350,000,000 Series 4 Class A Asset Backed Floating Rate Notes due
October 2033 (ISIN: US71419GAL41 - Common Code: 28919115 - CUSIP:
71419GAL4)
GBP650,000,000 Series 5 Class A Asset Backed Floating Rate Notes
due October 2033 (ISIN: XS0288093957 - Common Code: 28809395 - CUSIP:
N/A)
GBP83,600,000 Series 2 Class B Asset Backed Floating Rate Notes due
July 2042 (ISIN: XS0288097511 - Common Code: 28809751 - CUSIP:
N/A)
GBP41,300,000 Series 4 Class B Asset Backed Floating Rate Notes due
July 2042 (ISIN: XS0288100836 - Common Code: 28810083 - CUSIP:
N/A)
GBP83,600,000 Series 2 Class C Asset Backed Floating Rate Notes due
July 2042 (ISIN: XS0288102709 - Common Code: 28810270 - CUSIP:
N/A)
GBP41,300,000 Series 4 Class C Asset Backed Floating Rate Notes due
July 2042 (ISIN: XS0288104408 - Common Code: 28810440 - CUSIP: N/A)
(together, the 2007-1 Notes),
GBP392,900,000 Series 1 Class A5 Asset Backed Floating Rate Notes due July 2042
(ISIN: XS0359635702 - Common Code: 035963570)
GBP785,700,000 Series 1 Class A6 Asset Backed Floating Rate Notes due July 2042
(ISIN: XS0359636189 - Common Code: 035963618)
GBP1,571,500,000 Series 1 Class A7 Asset Backed Floating Rate Notes due July
2042 (ISIN: XS0359636262 - Common Code: 035963626)
GBP1,964,300,000 Series 1 Class A8 Asset Backed Floating Rate Notes due July
2042 (ISIN: XS0359636692 - Common Code: 035963669)
GBP298,400,000 Series 1 Class B Asset Backed Floating Rate Notes due July 2042
(ISIN: XS0359636932 - Common Code: 035963693)
GBP298,400,000 Series 1 Class C Asset Backed Floating Rate Notes due July 2042
(ISIN: XS0359637237 - Common Code: 035963723).
(together, the 2008-1 Notes)
GBP500,000,000 Series 1 Class A Asset Backed Floating Rate Notes due April 2014
(ISIN: XS0365842466 - Common Code: 036584246 - CUSIP: N/A)
(the 2008-2 Notes)
GBP1,650,000,000 Series 1 Class A Asset Backed Floating Rate Notes due July 2042
(ISIN: XS0454741272 - Common Code: 045474127 - CUSIP: N/A)
GBP1,650,000,000 Series 2 Class A Asset Backed Floating Rate Notes due July 2042
(ISIN: XS0454744375 - Common Code: 045474437 - CUSIP: N/A)
EUR750,000,000 Series 3 Class A Asset Backed Floating Rate Notes due July 2042
(ISIN: XS0454744458 - Common Code: 045474445 - CUSIP: N/A)
(together, the 2009-1 Notes and together with the 2006-1 Notes, the 2007-1
Notes, the 2008-1 Notes and the 2008-2 Notes, the Notes and the holders thereof
the Noteholders)
each issued by the Master Issuer
constituted by a Trust Deed dated 17 October 2006 between the Master
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 Master 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:
(a)
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:
(i)
EUR1,500,000,000 Series 4 Class A Asset Backed Floating Rate Notes due March
2034;
(ii) EUR85,000,000 Series 4 Class B Asset Backed
Floating Rate Notes due June 2042; and
(iii) EUR62,500,000
Series 4 Class M Asset Backed Floating Rate Notes due June 2042;
(b)
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:
(i)
EUR1,000,000,000 Series 4 Class A Asset Backed Floating Rate Notes due June
2042;
(ii) EUR43,500,000 Series 4 Class B Asset Backed Floating
Rate Notes due June 2042; and
(iii) EUR36,000,000 Series 4 Class
C Asset Backed Floating Rate Notes due June 2042;
(c) 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:
(i) EUR750,000,000 Series 4 Class A Asset
Backed Floating Rate Notes due June 2042; and
(d) 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:
(i) 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
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