HARBOUR FUNDING PLC: Surrender and Cancellation of Bonds
07 March 2020 - 3:46AM
UK Regulatory
TIDM68MT
Harbour Funding Plc -- Surrender and cancellation of GBP685 of
the GBP214,388,676 5.28% Secured Bonds due 2044
Harbour Funding Plc (HARB) is a special purpose company which
issued GBP214,388,676 5.28 per cent. Secured Bonds due 2044 (the
Bonds) originally constituted and secured by a trust deed dated 28
August 2003 (as amended and supplemented) (the Trust Deed). The
Proceeds of the issue of the Bonds were loaned to various housing
associations (the Borrowers) pursuant to various loan agreements
including Housing Solutions Limited (HSL) under a loan agreement
dated 28 August 2003 (the Loan Agreement). Such loans have been
secured on properties of the Borrowers.
Pursuant to the terms of the Trust Deed and the Loan Agreement,
a Borrower may purchase Bonds and surrender them to HARB to be
cancelled.
HSL has purchased GBP685 in aggregate principal amount of the
Bonds in the market and has surrendered such Bonds to HARB (the
Surrendered Bonds). The Surrendered Bonds have been cancelled in
accordance with the requirement of the Trust Deed on 28 February
2020.
Following the cancellation of the Surrendered Bonds there are
now GBP206,335,676 in aggregate principal amount of the Bonds
outstanding.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20200306005383/en/
CONTACT:
Harbour Funding plc
SOURCE: Harbour Funding plc
Copyright Business Wire 2020
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