TIDM56VM 
 
RNS Number : 9435D 
Permanent Financing (No.7) PLC 
10 December 2009 
 
RNS ANNOUNCEMENT 
 
 
 
 
PERMANENT FINANCING (NO. 7) PLC (the Seventh Issuer) 
 
 
NOTICE OF REDEMPTION 
 
 EUR1,700,000,000 Series 3 Class A Asset Backed Floating Rate Notes due 
September 2032 (ISIN: XS0215348896 - Common Code: 021534889 - CUSIP: 
N/A) 
 EUR73,700,000 Series 3 Class B Asset Backed Floating Rate Notes due June 
2042 (ISIN: XS0215349944 - Common Code: 021534994 - CUSIP: N/A) 
 EUR71,800,000 
Series 3 Class C Asset Backed Floating Rate Notes due June 2042 (ISIN: 
XS0215351254 - Common Code: 021535125 - CUSIP: N/A) 
 GBP850,000,000 Series 4 
Class A Asset Backed Floating Rate Notes due September 2032 (ISIN: XS0215352906 
- Common Code: 021535290 - CUSIP: N/A) 
 GBP36,800,000 Series 4 Class B Asset 
Backed Floating Rate Notes due June 2042 (ISIN: XS0215353896 - Common Code: 
021535389 - CUSIP: N/A) 
 GBP35,900,000 Series 4 Class C Asset Backed Floating 
Rate Notes due June 2042 (ISIN: XS0215355081 - Common Code: 021535508 - CUSIP: 
N/A) 
 GBP500,000,000 Series 5 Class A Asset Backed Floating Rate Notes due 
September 2032 (ISIN: XS0215356485 - Common Code: 021535648 - CUSIP: N/A) 
each issued by the Seventh Issuer 
 (the Seventh Issuer Notes and the holders 
thereof the Noteholders) 
constituted by a Trust Deed dated 23 March 2005 between the Seventh 
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 Seventh 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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