NOTICE TO NOTEHOLDERS

RNS Number : 2050B

Silverstone Master Issuer PLC

08 June 2021

 

THIS NOTICE IS IMPORTANT AND
REQUIRES THE IMMEDIATE ATTENTION OF NOTEHOLDERS.

SILVERSTONE MASTER ISSUER PLC
(incorporated in England and Wales with limited liability with registered number 06612744)
(the Issuer)

£35,000,000,000 RESIDENTIAL MORTGAGE-BACKED NOTE ISSUANCE PROGRAMME

8 June 2021

NOTICE TO NOTEHOLDERS

NOTICE IS HEREBY GIVEN THAT on 8 June 2021 the Issuer made certain amendments (the "Amendments") to the Cash Management Agreement, Funding 1 Bank Account Agreement, Funding 1 Start-up Loan Agreement, Intercompany Loan Confirmation to the Intercompany Loan Agreement with respect to the Series 2018-1 Term Advances, Intercompany Loan Confirmation to the Intercompany Loan Agreement with respect to the Series 2019-1 Term Advances, Intercompany Loan Confirmation to the Intercompany Loan Agreement with respect to the Series 2020-1 Term Advances, Intercompany Loans Terms and Conditions, Issuer Cash Management Agreement, Issuer Master Definitions and Construction Schedule, Master Definitions and Construction Schedule, Mortgage Sale Agreement, Mortgages Trustee Bank Account Agreement, Servicing Agreement, certain Funding 1 Swaps, and certain Issuer Dollar Currency Swaps (the "Amended Documents"). The Amendments are intended to accommodate the phasing out of LIBOR and the transition of the programme to a SONIA benchmark as the continuation of LIBOR on the current basis will cease after 2021 (with respect to most LIBOR settings) and regulators have urged market participants to take active steps to implement the transition to SONIA and other risk-free rates ahead of this deadline. The Amendments include changes to certain LIBOR linked rates to change the relevant base rate to SONIA and, if applicable, increasing the applicable margins to represent the difference between LIBOR and SONIA. The Amendments to each of the Amended Documents will be effective as of the date hereof, except the Amendments to the Funding 1 Bank Account Agreement, the Mortgages Trustee Bank Account Agreement, the Intercompany Loan Confirmation to the Intercompany Loan Agreement with respect to the Series 2018-1 Term Advances, and the LIBOR Funding 1 Swaps will be effective in full as of 21 July 2021.

For further information, please contact:

Silverstone Master Issuer PLC

c/o Wilmington Trust SP Services (London) Limited

Third Floor

1 King's Arms Yard

London

EC2R 7AF

Telephone: [phone]

DISCLAIMER - INTENDED ADDRESSEES

Please note that the information contained in this announcement may be addressed to and/or targeted at persons who are residents of particular countries (specified in the Prospectus) only and is not intended for use and should not be relied upon by any person outside these countries and/or to whom the offer contained in the Prospectus is not addressed. The distribution of this announcement in certain jurisdictions may be restricted by law and persons into whose possession this announcement comes are requested to inform themselves about, and to observe, any such restrictions. Prior to relying on the information contained in the Prospectus you must ascertain from the Prospectus whether or not you are part of the intended addressees of the information contained therein.

Your right to access this service is conditional upon complying with the above requirement.

 

END

 

 

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