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Eur Res Ln Sc 2017-P (IRSH)

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Tuesday 12 February, 2019

Eur Res Ln Sc 2017-P

Notice to Noteholders

RNS Number : 7784P
European Residntl Ln Sec 2017-PL1
12 February 2019
 

 

Notice to the holders of all outstanding


€300,947,000 Class A Mortgage Backed Floating Rate Notes due 2057

(Common Code (Reg S): 158888602; ISIN (Reg S): XS1588886025; ISIN)

 

€85,268,000 Class B Mortgage Backed Floating Rate Notes due 2057

(Common Code (Reg S): 158888661; ISIN (Reg S): XS1588886611; ISIN)

 

€33,439,000 Class C Mortgage Backed Floating Rate Notes due 2057

(Common Code (Reg S): 158888688; ISIN (Reg S): XS1588886884; ISIN)

 

€50,158,000 Class D Mortgage Backed Floating Rate Notes due 2057

(Common Code (Reg S): 158888696; ISIN (Reg S): XS1588886967; ISIN)

 

€51,830,000 Class E Mortgage Backed Floating Rate Notes due 2057

(Common Code (Reg S): 158888734; ISIN (Reg S): XS1588887346; ISIN)

 

€33,439,000 Class F Mortgage Backed Floating Rate Notes due 2057

(Common Code (Reg S): 158889102; ISIN (Reg S): XS1588891025; ISIN)

 

€113,691,000 Class Z Mortgage Backed Floating Rate Notes due 2057

(Common Code (Reg S): 158889145; ISIN (Reg S): XS1588891454; ISIN)

 

€100,000 Class X Mortgage Backed Floating Rate Notes due 2057

(Common Code (Reg S): 158889153; ISIN (Reg S): XS1588891538; ISIN)

 

(together the "Notes")

 

issued by European Residential Loan Securitisation 2017-PL1 DAC (the "Issuer")

NOTICE IS HEREBY GIVEN to the Noteholders that the Issuer has been informed by the current holder of the Call Option pursuant to the Deed Poll (the "Call Option Holder"), that the Call Option Holder is currently considering potential future exercise options with regard to the Call Option and the resulting potential purchase of the loans from the Issuer. As a result, the Call Option Holder may elect to exercise the Call Option and purchase the loans backing the Notes from the Issuer, which would lead to the redemption of the Notes pursuant to Condition 9.3. There can be no certainty as to when or whether the Call Option Holder will exercise its rights under the Call Option, but the Issuer notes that the first Interest Payment Date which may see Notes being redeemed as a result of any such exercise is the Interest Payment Date falling in March 2019.  

The Call Option Holder has engaged Morgan Stanley & Co. International plc to assist in evaluating potential strategic alternatives.

Noteholders who have queries in relation to the above matters should contact Intertrust Finance Management (Ireland) Limited; Tel: +353 1 697 5350; Email: [email protected] for further information.

Defined terms used in this notice will have the meaning given to them in the prospectus of the Issuer dated 29 March 2017

12 February 2019

 

For and on behalf of

European Residential Loan Securitisation 2017-PL1 DAC

 

 

 

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

 

 



 


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