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Titan Europe 2006-5 (IRSH)

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Tuesday 06 November, 2018

Titan Europe 2006-5

Notice to Noteholders

RNS Number : 5342G
Titan Europe 2006-5 PLC
06 November 2018
 

 

THIS NOTICE CONTAINS IMPORTANT INFORMATION THAT IS OF INTEREST TO THE REGISTERED AND BENEFICIAL OWNERS OF THE SUBJECT SECURITIES. IF APPLICABLE, ALL DEPOSITORIES, CUSTODIANS AND OTHER INTERMEDIARIES RECEIVING THIS NOTICE ARE REQUESTED TO EXPEDITE THE RE-TRANSMITTAL TO BENEFICIAL OWNERS OF THE SECURITIES IN A TIMELY MANNER.  IF NOTEHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, IF ANY, THEY SHOULD CONSULT THEIR OWN INDEPENDENT PROFESSIONAL ADVISERS AUTHORISED UNDER THE FINANCIAL SERVICES AND MARKETS ACT 2000 (IF THEY ARE IN THE UNITED KINGDOM) OR ANOTHER APPROPRIATELY AUTHORISED INDEPENDENT FINANCIAL ADVISER AND TAKE SUCH OTHER ADVICE FROM THEIR OWN PROFESSIONAL, TAX AND LEGAL ADVISERS AS THEY DEEM NECESSARY, IMMEDIATELY.

 

Notice to Noteholders

 

€330,000,000 Class A1 Commercial Mortgage Backed Floating Rate Notes due 2019

(XS0277721618/XS0277724398)

€50,000 Class X Commercial Mortgage Backed Floating Rate Notes due 2019

(XS0277735758/XS0277736301)

€112,300,000 Class A2 Commercial Mortgage Backed Floating Rate Notes due 2019

(XS0277725361/XS0277725874)

€61,893,000 Class A3 Commercial Mortgage Backed Floating Rate Notes due 2019

(XS0277726500/XS0277727490)

€56,807,000 Class B Commercial Mortgage Backed Floating Rate Notes due 2019

(XS0277728381/XS0277729272)

€43,000,000 Class C Commercial Mortgage Backed Floating Rate Notes due 2019

(XS0277729439/XS0277731179)

€37,000,000 Class D Commercial Mortgage Backed Floating Rate Notes due 2019

(XS0277732144/XS0277732656)

€5,000,000 Class E Commercial Mortgage Backed Floating Rate Notes due 2019

(XS0277733548/XS0277733894)

€14,868,755 Class F Commercial Mortgage Backed Floating Rate Notes due 2019
(XS0277734199/XS0277734785)

€50,000 Class V Commercial Mortgage Backed Floating Rate Notes due 2019

(together, the "Notes")

 

issued by Titan Europe 2006-5 p.l.c. (the "Issuer")

on 19 December 2006

 

 

The EU Market Abuse Regulation (596/2014) requires disclosure of inside information relating to the Issuer.

 

Terms used and not defined herein shall have the meaning ascribed to them in the Prospectus in relation to the Notes dated 19 December 2006 and the notices to Noteholders dated 10 August 2015, 8 September 2015, 5 August 2016, 6 February 2017, 8 February 2017, 27 March 2017, 11 May 2017, 31 May 2017, 21 August 2017, 2 October 2017, 15 November 2017 and 28 December 2017 (the "Notices").

 

We refer to the Notices in relation to the Quartier 206 Shopping Centre Borrower Claim.

 

Higher Regional Court of Frankfurt - Reasons for Appeal

 

We refer to the notice dated 28 December 2017.

 

The Issuer hereby notifies all Noteholders that the Quartier 206 Shopping Centre Borrower has served on the Issuer its reasons for appeal against the first instance judgement of the Regional Court of Frankfurt/Main in the Quartier 206 Shopping Centre Borrower Claim.

 

The reasons for appeal include new assertions by the Quartier 206 Shopping Centre Borrower that it does not owe:

·     payment of loan interest; or alternatively, that the Quartier 206 Shopping Centre Borrower only owes loan interest until 3 November 2011 and in a limited amount further specified;

·     legal costs other than pursuant to section 104 of the German Code of Civil Procedure; and

·     reimbursement of costs of debt collection by means of special servicing.

 

The Quartier 206 Shopping Centre Borrower has also modified its request by stating that it only owes interest on late payments at the earliest from 19 October 2011 and in a limited amount further specified.

 

The Higher Regional Court of Frankfurt has set a deadline of 17 December 2018 for a written response to the Quartier 206 Shopping Centre Borrower's appeal. An oral hearing in these appeal proceedings has been scheduled for 26 February 2019 at 12:00 noon before the Higher Regional Court of Frankfurt, Zeil 42, 60313 Frankfurt am Main, in Building D, Room 101.

 

Queries may be addressed to the Issuer as follows:

 

Address:           Titan Europe 2006-5 p.l.c.

                        c/o Wilmington Trust SP Services (Dublin) Ltd

                        Fourth Floor

                        3 George's Dock, IFSC

                        Dublin 1, Ireland

Attention:          The Directors

Fax:                  +353 1 6125550

E-mail:              [email protected]

 

This notice is given by

TITAN EUROPE 2006-5 PLC

as Issuer

 

6 November 2018

 

 

 

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

 

 


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