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 (i) 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 and (ii) the notice of the Issuer to Noteholders (the
“Notice to Noteholders”) dated 2
December 2022.
We refer to the Notice to Noteholders, which set out the
prepayment amounts paid by the Borrowers under their respective
Loan Agreements on 5 December
2022.
The Issuer confirms that it has received the following amounts
from the Borrowers:
(i)
Derwent:
£4,251,243.12
(ii) Home
Group:
£6,664,839.69
(iii)
Stonewater:
£14,315,147.82
(iv)
Metropolitan:
£7,570,302.26
In respect to the repayments to be made by the Issuer in respect
to the Notes on the Interest Payment Date falling on 7 December 2022, the Issuer's independent
financial adviser for the purposes of Condition 5(g) of the Notes
has provided the Issuer with the following information below.
| BOND
REPAYMENT |
| Payment Due 7 Dec
2022 |
| Interest |
1,171,271.90 |
| Principal |
2,351,327.34 |
| Total |
3,522,599.24 |
|
|
| Repayment |
| Principal |
26,043,143.05 |
| Makewhole |
2,956,174.39 |
| Total |
28,999,317.44 |
|
|
| Reference
Bond: 2.25% Treasury Gilt due 7 Sept 2023 |
| Rate @ 3pm 30 Nov |
3.4082% |
By way of clarification with the information included in the
Notice to Noteholders, the Issuer's independent financial adviser
confirms that the reason why the Borrowers have paid different
Prepayment Premiums is because their respective Loan Agreements
have different interest rates and different amortisation schedules
to that of the Notes.
The Issuer refers to the additional facility agreement (the
“Additional Facility Agreement”) dated 16 July 2004, as amended and restated on
21 August 2012 and entered into
between the Issuer, the Trustee and Barclays Bank PLC (the
“Additional Facility Provider”). The Issuer confirms
that it paid all amounts due to the Additional Facility Provider
under the Additional Facility Agreement on the Interest Payment
Date falling on 7 December 2022 and
that the facility has now terminated.
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
8 December 2022