Taurus CMBS (P-E)7-1

Notice

RNS Number : 0910D
Taurus CMBS (Pan-Europe) 2007-1 DAC
14 February 2020
 

 

For immediate Release

 

The date of this notice is 14 February 2020

 

IMPORTANT NOTICE TO NOTEHOLDERS

THIS NOTICE REQUIRES THE IMMEDIATE ATTENTION OF NOTEHOLDERS. IF NOTEHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, THEY SHOULD CONSULT THEIR OWN INDEPENDENT PROFESSIONAL ADVISORS IMMEDIATELY.

 

Taurus CMBS (Pan-Europe) 2007-1 DAC (the "Issuer")

 

€407,600,000 Class A1 Commercial Mortgage Backed Floating Rate Notes due 2020

(ISIN: XS0305732181)

€21,300,000 Class A2 Commercial Mortgage Backed Floating Rate Notes due 2020

(ISIN: XS0309194248)

€50,000 Class X1 Commercial Mortgage Backed Variable Rate Note due 2020

(ISIN: XS0305733668)

CHF 100,000 Class X2 Commercial Mortgage Backed Variable Rate Note due 2020

(ISIN: XS0305734476)

€31,500,000 Class B Commercial Mortgage Backed Floating Rate Notes due 2020

(ISIN: XS0305744608)

€45,800,000 Class C Commercial Mortgage Backed Floating Rate Notes due 2020

(ISIN: XS0305745597)

€36,200,000 Class D Commercial Mortgage Backed Floating Rate Notes due 2020

(ISIN: XS0305746215)

€5,000,000 Class E Commercial Mortgage Backed Floating Rate Notes due 2020

(ISIN: XS0309195567)

€2,500,000 Class F Commercial Mortgage Backed Floating Rate Notes due 2020

(ISIN: XS0309195997)

 

(together the "Notes")

The Notes are admitted to trading on the regulated market of The Irish Stock Exchange plc, trading as Euronext Dublin.

Capitalised terms used but not defined in this Notice shall have the meaning ascribed to such terms in the Master Definitions Agreement dated 2 August 2007 between, inter alios, the Issuer, Capita Asset Services (UK) Limited (as Special Servicer) and HSBC Bank plc (as Principal Paying Agent and Cash Manager).

Reference is made to the RIS announcement made by the Issuer on 29 January 2020 (the "29 January Announcement").

Payment of Interest on the Notes

As noted in the 29 January Announcement, the effect of the ongoing Safeguard Proceedings is that the Issuer was not likely to have funds available to it to redeem the Notes at their aggregate Principal Amount Outstanding plus accrued interest on the Final Maturity Date in accordance with Condition 6(a) (Final Redemption).

Further to the 29 January Announcement and based on information provided to it by the Principal Paying Agent, the Issuer was unable to pay interest and principal due and payable on the Class C Notes, Class D Notes and Class E Notes on the Final Maturity Date falling on 4 February 2020.

The Issuer will continue to discuss the servicing of the underlying loans with the Special Servicer.  The Issuer and Special Servicer will continue to provide further updates to the market at the appropriate time.  

Please address any queries in relation to this Notice to the Issuer:

Taurus CMBS (Pan-Europe) 2007-1 Designated Activity Company

Attn: Apex IFS Limited

2 Grand Canal Square

Grand Canal Harbour

Dublin 2

Ireland 

 

 This announcement has been issued through the Companies Announcement Service of Euronext Dublin.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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