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Fosse Master Issuer (82ZI)

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Friday 28 May, 2010

Fosse Master Issuer

Documents Amendments

RNS Number : 7780M
Fosse Master Issuer PLC
28 May 2010
 

THIS NOTICE IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION.  If you are in ANY doubt as to the action you should take, you are recommended to seek your own financial advice immediately from your stockbroker, bank manager, solicitor, accountant or other independent financial adviser WHO, if you are TAKING ADVICE in the United Kingdom, IS DULY authorised under the Financial Services and Markets Act 2000.

FOSSE MASTER ISSUER PLC

NOTICE

to the holders (together, the Noteholders) of the outstanding

£205,000,000 Class A1 Asset Backed Floating Rate Notes due October 2054 (ISIN: XS0493851298 Common Code: 049385129)
€775,000,000 Class A2 Asset Backed Floating Rate Notes due October 2054 (ISIN: XS0493852858 Common Code: 049385285)
£525,000,000 Class A3 Asset Backed Fixed Rate Notes due October 2054 (ISIN: XS0493854631 Common Code: 049385463)
£389,000,000 Class Z Asset Backed Floating Rate Notes due October 2054 (ISIN: XS0493858202 Common Code: 049385820)
(the 2010-1 Notes)

€400,000,000 Class A2 Asset Backed Floating Rate Notes due October 2054 (ISIN: XS0383827051 Common Code: 038382705)
(the 2008-1 Notes)

US$450,000,000 Class A2 Asset Backed Floating Rate Notes due October 2054 (ISIN: Rule 144A:US34988MAJ53/Reg S: XS0312388209 Common Code: 031238820)
€685,000,000 Class A3 Asset Backed Floating Rate Notes due October 2054 (ISIN: XS0312388548 Common Code: 031238854)
£775,000,000 Class A4 Asset Backed Floating Rate Notes due October 2054 (ISIN: XS0312388621 Common Code: 031238862)
US$500,000,000 Class A5 Asset Backed Floating Rate Notes due October 2054 (ISIN: Rule 144A US34988MAN65/Reg S: XS0312915340 Common Code: 031291534)
(the 2007-1 Notes)

US$1,250,000,000 Class A2 Asset Backed Floating Rate Notes due October 2054 (ISIN: Rule 144A: US34988MAB28/Reg S: XS0274284792 Common Code: 27428479)
€937,500,000 Class A3 Asset Backed Floating Rate Notes due October 2054 (ISIN: XS0274289759 Common Code: 27428975)
£542,000,000 Class A4 Asset Backed Floating Rate Notes due October 2054 (ISIN: XS0274293785 Common Code: 27429378)
US$45,000,000 Class B2 Asset Backed Floating Rate Notes due October 2054 (ISIN: Rule 144A: US34988MAD83/Reg S: XS0274285682 Common Code: 27428568)
€37,000,000 Class B3 Asset Backed Floating Rate Notes due October 2054 (ISIN: XS0274290252 Common Code: 27429025)
£16,750,000 Class B4 Asset Backed Floating Rate Notes due October 2054 (ISIN: XS0274294163 Common Code: 27429416)
US$34,500,000 Class M2 Asset Backed Floating Rate Notes due October 2054 (ISIN: Rule 144A: US34988MAF32/ Reg S: XS0274287621 Common Code: 27428762)
€27,500,000 Class M3 Asset Backed Floating Rate Notes due October 2054 (ISIN: XS0274291060 Common Code: 27429106)
£13,750,000 Class M4 Asset Backed Floating Rate Notes due October 2054 (ISIN: XS0274294759 Common Code: 27429475)
US$40,500,000 Class C2 Asset Backed Floating Rate Notes due October 2054 (Rule 144A: US34988MAG15/Reg S: XS0274288942 Common Code: 27428894)
€22,500,000 Class C3 Asset Backed Floating Rate Notes due October 2054 (ISIN: XS0274291656 Common Code: 27429165)
£6,250,000 Class C4 Asset Backed Floating Rate Notes due October 2054 (ISIN: XS0274294916 Common Code: 27429491)
(the
2006-1 Notes and, together with the 2007-1 Notes, the 2008-1 Notes and the 2010-1 Notes, the Notes)

At a hearing of the Companies Court of the High Court (Chancery Division) (the Court) on 13 May 2010, the Court made an order (the Part VII Order) approving the transfer (the Transfer) to Santander UK plc (Santander UK) of the business of Alliance & Leicester plc (A&L) under a bank business transfer scheme (the Part VII scheme) pursuant to Part VII of the Financial Services and Markets Act 2000.  The Transfer has become effective today, 28 May 2010 (the Part VII Effective Date). 

Pursuant to the Part VII Scheme, Santander UK has replaced A&L as Seller, Servicer, Beneficiary (of the Mortgages Trust), Cash Manager, Funding 1 Swap Provider, Funding 1 Start-up Loan Provider, Issuer Cash Manager, an Issuer Swap Provider (with respect to the €400,000,000 Class A2 Asset Backed Floating Rate Notes due October 2054) and Secretarial Services Provider with effect on the Part VII Effective Date.  Accordingly, Santander UK has assumed all of A&L's rights and obligations with respect to those roles and the related documentation, as if Santander UK was the original party thereto rather than A&L and A&L is discharged from any liabilities in respect thereof.

In connection with the Transfer becoming effective and following satisfaction of the conditions precedent of the Note Trustee (in its various capacities), the amendments made to the Transaction Documents in connection with the issuance of the 2010-1 Notes have also become effective.

Further details regarding the above arrangement are contained in the supplement dated 26 May 2010 to the base prospectus dated 8 March 2010.

Capitalised terms used, but not defined, in this notice shall have the meanings given thereto in the Master Definitions and Construction Schedule dated 28 November 2006 (as amended and restated on 1 August 2007 and 20 December 2007, as amended on 23 November 2009 and as further amended and restated on 11 March 2010) or, as applicable, the Issuer Master Definitions and Construction Schedule dated 6 November 2006 (as amended and restated on 14 December 2006 and 11 March 2010).

ISSUING AND PRINCIPAL PAYING AGENT

Citibank, N.A., London Branch

21st Floor

Citigroup Centre

Canada Square

Canary Wharf

London E14 5LB

 

This notice is given by FOSSE MASTER ISSUER PLC on 28 May 2010.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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