Housing Assn Funding Notice to Noteholders
30 Mai 2022 - 11:05AM
UK Regulatory
TIDM32EK TIDMBK48
THIS NOTICE IS A REPLACEMENT OF THE NOTICE DATED 7 FEBRUARY 2022 WITH THE
HEADLINE "Notice to Noteholders".
THE PREPAYMENT AMOUNTS HAVE BEEN UPDATED FOR ACCURACY.
THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION
OF NOTEHOLDERS. IF NOTEHOLDERS ARE IN ANY DOUBT AS TO THE
ACTION THEY SHOULD TAKE, THEY SHOULD SEEK THEIR OWN
FINANCIAL, LEGAL OR OTHER PROFESSIONAL ADVICE, INCLUDING AS TO
ANY TAX CONSEQUENCES, IMMEDIATELY FROM THEIR STOCKBROKER,
SOLICITOR, ACCOUNTANT OR OTHER INDEPENDENT FINANCIAL, LEGAL
OR OTHER PROFESSIONAL ADVISER
If you have recently sold or otherwise transferred your entire holding(s) of
the Notes
referred to below, you should immediately forward this document to the
purchaser or
transferee or to the broker, bank or other agent through whom the sale or
transfer was
effected for transmission to the purchaser or transferee.
NOTICE TO NOTEHOLDERS
To the holders of the £192,270,000 8.25 per cent. Secured Loan-Backed Notes due
June 2027
ISIN: XS0073407537
(the "Notes")
issued by Housing Association Funding PLC
(the "Issuer")
Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16
April 2014 (Market Abuse Regulation) requires disclosure by or on behalf of the
Issuer of any inside information concerning the Issuer.
Capitalised terms used but not otherwise defined herein shall have the meanings
ascribed to them in the master schedule of definitions, interpretation and
construction clauses dated 23 January 1997, as amended and restated on 30
January 1998, as amended and restated on 23 December 1999, as amended and
restated on 29 June 2005, as amended and restated on 7 December 2009, as
amended and restated on 11 February 2010 and as further amended and restated on
31 January 2017.
Please disregard the notice dated 7 February 2022 as the amounts of the
prepayment were not correctly reflected. Please regard this notice as the
accurate notice on all matters contained herein.
The Issuer also wishes to inform Noteholders of the further information
regarding the future amortisation of the Notes within this notice.
Partial Redemption occurring on the December 2021 IPD
We refer to the notice of the Issuer dated 6 December 2021 in which the Issuer
informed Noteholders that it received funds from A2 Dominion South Limited
(formerly known as Airways Housing Society Limited) ("A2 Dominion South Limited
") in relation to the prepayment of its loan.
Pursuant to the Supplemental Trust Deed, the amount of the prepayment was, as
is required, applied to redeem the Notes and pay Noteholders on the Interest
Payment Date (as defined in the Trust Deed) falling in December 2021 (the "
December 2021 IPD") in accordance with the terms of the Transaction Documents
as follows (the "December 2021 Redemption"):
* £211,302.59 was applied as standard amortisation;
* £131,911.41 was applied as interest;
* £2,986,549.79 was applied to redeem the Notes;
* £709,417.35 was applied in payment of the Prepayment Premium; and
* £46,544.32 was or will be applied in repayment of outstanding fees, costs
and expenses incurred by the transaction parties.
As a result of the corrected prepayment amounts in relation to the December
2021 Redemption as set out above, the following amounts will be paid to
Noteholders on the next Interest Payment Date:
* £44,601.11 additional interest payment; and
* £152,138.35 to correct the Premium Payment.
The Issuer wishes to inform Noteholders following the December 2021 Redemption,
that the column headed "Principal Amount to be redeemed per £100" and the
column headed "Principal Amount Outstanding Per £100 After Redemption", in each
case set out under the heading Mandatory Amortising Redemption at Condition 5
(b) of the Notes shall be adjusted pursuant Condition 5(b) of the Notes. The
figures in the column headed Principal Amount to be Redeemed per £100 shall be
replaced with the figures in the column headed "New Principal to be Redeemed
per £100" and the figures in the column headed and the column headed "Principal
Amount Outstanding Per £100 After Redemption" shall be
replaced with the figures in the column headed "New Principal Amount
Outstanding per £100 after redemption", in each case, as set out below:
Interest Payment Previous New Principal to Previous Principal New Principal
Date Principal to be redeemed per Amount Outstanding Amount
be redeemed £100 per £100 after Outstanding per
per £100 redemption £100 after
redemption
7 December 2021 1.89275194 2.79116361 26.75214647 15.94250164%
7 June 2022 1.97082796 1.17448250 24.78131851 14.76801914%
7 December 2022 2.05212462 1.22292991 22.72919389 13.54508923%
7 June 2023 2.13677475 1.27337577 20.59241914 12.27171346%
7 December 2023 2.22491672 1.32590252 18.36750242 10.94581094%
7 June 2024 2.31669453 1.38059600 16.05080789 9.56521494%
7 December 2024 2.41225818 1.43754558 13.63854972 8.12766936%
7 June 2025 2.51176383 1.49684434 11.12678589 6.63082503%
7 December 2025 2.61537409 1.55858917 8.51141180 5.07223586%
7 June 2026 2.72325827 1.62288097 5.78815354 3.44935489%
7 December 2026 2.83559267 1.68982481 2.95256087 1.75953008%
7 June 2027 2.95256087 1.75953008 0.00000000 0.00000000%
Queries may be addressed to the Issuer as follows:
Housing Association Funding PLC:
Address: Bastion House, 6th Floor, 140 London Wall, London, England, EC2Y 5DN
Attention: The Directors
Telephone: +44 203 994 7157
Email: spvservices@apexfs.com
HOUSING ASSOCIATION FUNDING PLC
27 May 2022
View PDF version here
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