Permanent Financing (No.1) PLC

PERMANENT FINANCING (NO. 1) PLC

                                  (the Issuer)

          (a public limited company incorporated in England and Wales)

                         NOTICE OF INTENTION TO DE-LIST

$26,000,000 Series 1 Class B Asset Backed Floating Rate Notes due June 2042
(ISIN: US714198AB47 - Common Code: N/A - CUSIP: 714198 AB 4) (the Series 1 Class
B Notes)

   $26,000,000 Series 1 Class C Asset Backed Floating Rate Notes due June 2042
(ISIN: US714198AC20 - Common Code: N/A - CUSIP: 714198 AC 2) (the Series 1 Class
                                    C Notes)

 $750,000,000 Series 2 Class A Asset Backed 4.20% Fixed Rate Notes due June 2007
(ISIN: US714198AD03 - Common Code: N/A - CUSIP: 714198 AD 0) (the Series 2 Class
                                    A Notes)

   $26,000,000 Series 2 Class B Asset Backed Floating Rate Notes due June 2042
(ISIN: US714198AE85 - Common Code: N/A - CUSIP: 714198 AE 8) (the Series 2 Class
                                    B Notes)

   $26,000,000 Series 2 Class C Asset Backed Floating Rate Notes due June 2042
(ISIN: US714198AF50 - Common Code: N/A - CUSIP: 714198 AF 5) (the Series 2 Class
                                    C Notes)

  $1,100,000,000 Series 3 Class A Asset Backed Floating Rate Notes due December
 2007 (ISIN: US714198AG34 - Common Code: N/A - CUSIP: 714198 AG 3) (the Series 3
                                 Class A Notes)

   $38,500,000 Series 3 Class B Asset Backed Floating Rate Notes due June 2042
(ISIN: US714198AH17 - Common Code: N/A - CUSIP: 714198 AH 1) (the Series 3 Class
                                    B Notes)

   $38,500,000 Series 3 Class C Asset Backed Floating Rate Notes due June 2042
(ISIN: US714198AJ72 - Common Code: N/A - CUSIP: 714198 AJ 7) (the Series 3 Class
                                    C Notes)

 EUR 750,000,000 Series 4 Class A1 Asset Backed 5.10% Fixed Rate Notes due June
  2009 (ISIN: XS0148353930 - Common Code: 014835393 - CUSIP: N/A) (the Series 4
                                 Class A1 Notes)

 �1,000,000,000 Series 4 Class A2 Asset Backed Floating Rate Notes due June 2042
 (ISIN: XS0148354235 - Common Code: 014835423 - CUSIP: N/A) (the Series 4 Class
                                    A2 Notes)

   �52,000,000 Series 4 Class B Asset Backed Floating Rate Notes due June 2042
(ISIN: XS0148361362 - Common Code: 014836136 - CUSIP: N/A) (the Series 4 Class B
                                     Notes)

   �52,000,000 Series 4 Class C Asset Backed Floating Rate Notes due June 2042
(ISIN: XS0148362337 - Common Code: 014836233 - CUSIP: N/A) (the Series 4 Class C
Notes and, together with the Series 1 Class B Notes, the Series 1 Class C Notes,
  the Series 2 Class A Notes, the Series 2 Class B Notes, the Series 2 Class C
   Notes, the Series 3 Class A Notes, the Series 3 Class B Notes, the Series 3
 Class C Notes, the Series 4 Class A1 Notes, the Series 4 Class A2 Notes and the
                       Series 4 Class B Notes, the Notes)

Following the full and final redemption of all the outstanding Notes issued by
Permanent Financing (No. 1) PLC (the Issuer), the Issuer has requested the UK
Listing Authority to cancel the listing of the Notes on the Official List
maintained by the UK Listing Authority and also notified the London Stock
Exchange plc that it wishes to cancel its admission to trading on the London
Stock Exchange of the Notes with effect on 13 July 2007 pursuant to rule 3.20 of
the Admission and Disclosure Standards (being more than 20 business days after
today's date).

This Notice is given on 14 June 2007 by:

Permanent Financing (No. 1) PLC
35 Great St. Helens
London, EC3A 6AP


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