Haven Funding PLC Surrender and cancellation of bonds - Replacement
30 März 2016 - 3:21PM
UK Regulatory
TIDMBD95
The issuer advises that the following replaces the Haven Funding
'Surrender and cancellation of bonds' announcement released at
11:47 BST today.
The correct ISIN and Ticker have now been included for linking
purposes.
All other details remain unchanged.
The full corrected version is shown below.
Haven Funding Plc- Surrender and cancellationof GBP3,474,340 of
the GBP259,783,095 8.125% Secured Bonds due 2037
Haven Funding Plc (Haven) is a special purpose company which
issued GBP259,783,095 8.125 per cent. Secured Bonds due 2037 (the
Bonds) originally constituted and secured by a trust deed dated 11
March 1997 (as amended and supplemented) (the Trust Deed). The
Proceeds of the issue of the Bonds were loaned to various housing
associations (the Borrowers) pursuant to various loan agreements
including Metropolitan Housing Trust Limited (MHT) under a loan
agreement dated 24 June 1997 (as amended by supplemental loan
agreements dated 11 March 1999 and 1 June 2000) (the Loan
Agreement). Such loans have been secured on properties of the
Borrowers.
Pursuant to the terms of the Trust Deed and the Loan Agreement,
a Borrower may purchase Bonds and surrender them to Haven to be
cancelled. Following such surrender an equivalent amount of the
Loan Agreement shall be deemed to be prepaid.
MHT has purchased GBP3,474,340 in aggregate principal amount of
the Bonds in the market and has surrendered such Bonds to Haven
(the Surrendered Bonds). The Surrendered Bonds have been cancelled
in accordance with the requirement of the Trust Deed on 29 March
2016.
Following the cancellation of the Surrendered Bonds there are
now GBP256,308,755 in aggregate principal amount of the Bonds
outstanding.
View source version on businesswire.com:
http://www.businesswire.com/news/home/20160330005726/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
March 30, 2016 09:21 ET (13:21 GMT)
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