TIDM99XB
RNS Number : 5832J
Income Contingent Student Loans 1
22 December 2020
THIS ANNOUNCEMENT MAY CONTAIN INSIDE INFORMATION FOR THE
PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU)
596/2014
Income Contingent Student Loans 1 (2002-2006) PLC
(Registered Number: 10596240)
1 Bartholomew Lane
London, United Kingdom, EC2N 2AX
(the "Issuer")
Dated 22 December 2020
NOTICE OF A MASTER SERVICER MODIFICATION
to the holders of the following notes of the Issuer presently
outstanding
GBP336,606,941.92 Class A1 Asset-Backed Floating Rate Notes due
2056 (ISIN: XS1722900518), GBP602,954,305.00 Class A2 Asset-Backed
Fixed Rate Notes due 2056 (ISIN: XS1722900864), GBP120,610,000.00
Class B Notes due 2056 (ISIN: XS1722900948) and GBP1,919,125,000.00
Class X Notes due 2056
(the "Noteholders" and the "Notes", respectively)
NOTICE IS HEREBY GIVEN by the Issuer to the Noteholders in
accordance with Condition 16 (Notices to Noteholders) that the
Issuer and the Master Servicer have amended the documents specified
in this notice with effect from 22 December 2020 (the "Effective
Date").
1. We refer to the note trust deed dated 13 December 2017
between the Issuer and Citicorp Trustee Company Limited as note
trustee (as amended, supplemented and restated from time to time,
the "Note Trust Deed"), including the terms and conditions of the
Notes set out at Schedule 5 thereto (the "Conditions"), pursuant to
which the Notes were constituted on the terms and subject to the
conditions contained therein.
2. We refer to the notices given by the Issuer to the
Noteholders on 22 October 2020 and again on 19 November 2020 which
set out the intention of the Issuer to amend the Amended Documents
to reflect terminology and processes following the implementation
of the project to deliver repayment system enhancements to allow
more frequent data transfers between HMRC and the Student Loans
Company in relation to ICR Loans repaid via PAYE.
3. The parties to the relevant documents have, with effect from
the Effective Date, amended the Conditions, the Note Trust Deed,
the Master Servicing Agreement, the Loan Sale Agreement and the
Master Definitions and Construction Agreement (the "Amended
Documents") to reflect terminology and processes following the
implementation of the project to deliver repayment system
enhancements to allow more frequent data transfers between HMRC and
the Student Loans Company in relation to ICR Loans repaid via
PAYE.
The Amended Documents can each be viewed at the following link
https://www.sf.citidirect.com, and the changes set out therein
being the "Amendments".
4. Copies of the Note Trust Deed, drafts of the Amended
Documents and related documents may be inspected in electronic or
physical form during usual business hours at the registered office
of the Issuer or the Principal Paying Agent. Capitalised terms used
but not otherwise defined herein shall have the meanings given to
them in the documents specified in this notice, as applicable.
5. Noteholders with queries concerning the content of this
Notice are kindly requested to contact the Master Servicer using
the details set out below.
Contact Details:
Master Servicer: The Secretary of State for Education
Sanctuary Buildings
20 Great Smith Street
London
SW1P 3BT
Telephone: +44(0) 370 000 2288
Email: Master.Servicer@education.gov.uk
Attention: Sinead O'Sullivan, Susan Acland-Hood,
Ailsa Harris
This Notice is given by
Income Contingent Student Loans 1 (2002-2006) PLC
as Issuer
THIS NOTICE CONTAINS IMPORTANT INFORMATION OF INTEREST TO THE
REGISTERED AND BENEFICIAL OWNERS OF THE NOTES (AS DEFINED BELOW).
IF APPLICABLE, ALL DEPOSITARIES, CUSTODIANS AND OTHER
INTERMEDIARIES RECEIVING THIS NOTICE ARE REQUESTED TO PASS THIS
NOTICE TO SUCH BENEFICIAL OWNERS IN A TIMELY MANNER.
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
financial adviser authorised under the Financial Services and
Markets Act 2000 (if you are in the United Kingdom), or from
another appropriately authorised independent financial adviser and
such other professional advice from your own professional advisors
as you deem necessary.
This Notice is addressed only to holders of the Notes (as
defined below) and persons to whom it may otherwise be lawful to
distribute it ("relevant persons"). It is directed only at relevant
persons and must not be acted on or relied on by persons who are
not relevant persons. Any investment or investment activity to
which this Notice relates is available only to relevant persons and
will be engaged in only with relevant persons.
If you have recently sold or otherwise transferred your entire
holding(s) of Notes referred to below, you should immediately
forward this document to the purchaser or transferee or to the
stockbroker, bank or other agent through whom the sale or transfer
was effected for transmission to the purchaser or transferee.
THIS NOTICE DOES NOT CONSTITUTE OR FORM PART OF, AND SHOULD NOT
BE CONSTRUED AS, AN OFFER FOR SALE, EXCHANGE OR SUBSCRIPTION OF, OR
A SOLICITATION OF ANY OFFER TO BUY, EXCHANGE OR SUBSCRIBE FOR, ANY
SECURITIES OF THE ISSUER OR ANY OTHER ENTITY IN ANY
JURISDICTION.
In accordance with normal practice, none of the Issuer, the Note
Trustee, the Security Trustee, the Agents or their affiliates (or
their respective directors, employees, officers, consultants or
agents) expresses any view or opinion whatsoever as to the
Amendments, the Amended Documents (each as defined below) or the
information set out in this Notice; and none of the Note Trustee
nor the Security Trustee makes any representation or recommendation
whatsoever as to any action to be taken or not taken by Noteholders
in relation to the Amendments, the Amended Documents or this
Notice, or any document prepared in connection with any of them.
Accordingly, the Issuer, the Note Trustee and the Security Trustee
urge Noteholders who are in doubt as to the impact of the
implementation of the Amendments, the Amended Documents or this
Notice or any document prepared in connection with any of them
(including any tax or other consequences), to seek their own
independent financial, tax and legal advice. Each of the Issuer,
the Note Trustee and the Security Trustee has not made, nor will
they make, any assessment of the merits of the Amendments, the
Amended Documents or this Notice or of the impact of the
Amendments, the Amended Documents or this Notice on the interests
of the Noteholders either as a class or as individuals.
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 rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
STRPPGPUPUPUGQP
(END) Dow Jones Newswires
December 22, 2020 11:04 ET (16:04 GMT)
Icsl1 56 (LSE:99XB)
Historical Stock Chart
From Nov 2024 to Dec 2024
Icsl1 56 (LSE:99XB)
Historical Stock Chart
From Dec 2023 to Dec 2024
