TIDM95LT
RNS Number : 4988U
Paragon Mortgages (No.26) PLC
28 March 2023
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO
ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS
UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT. THIS
NOTICE OR THE ELECTRONIC TRANSMISSION THEREOF 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.
This Notice contains important information of interest to the
registered and beneficial owners of the Notes and the Residual
Certificates (each 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 have recently sold or otherwise
transferred your entire holding(s) of Notes or Residual
Certificates referred to below, you should immediately forward this
Notice 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 is addressed only to holders of the Notes and the
Residual Certificates (each 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 are in any doubt as to the action you should take,
you are recommended to seek your own financial and legal advice,
including in respect of any tax consequences, immediately from your
stockbroker, bank manager, solicitor, accountant or other
financial, tax or legal adviser authorised under the Financial
Service and Markets Act 2000, as amended (if you are in the United
Kingdom), or from another appropriately authorised independent
financial adviser and such other professional advice from your own
professional advisers as you deem necessary.
PARAGON MORTGAGES (NO.26) PLC
(incorporated with limited liability in England and Wales with
registered number: 11727898)
(the "Issuer")
NOTICE
to the holders of all of the outstanding
GBP383,489,000 Class A1 Mortgage Backed Floating Rate Notes due
May 2045
(ISIN: XS1938530646, Common Code: 193853064)
(the "Class A1 Notes")
GBP151,540,000 Class A2 Mortgage Backed Floating Rate Notes due
May 2045
(ISIN: XS1938530729, Common Code: 193853072)
(the "Class A2 Notes")
GBP24,741,000 Class B Mortgage Backed Floating Rate Notes due
May 2045
(ISIN: XS1938531024, Common Code: 193853102)
(the "Class B Notes")
GBP18,555,000 Class C Mortgage Backed Floating Rate Notes due
May 2045
(ISIN: XS1938531370, Common Code: 193853137)
(the "Class C Notes")
GBP20,102,000 Class D Mortgage Backed Floating Rate Notes due
May 2045
(ISIN: XS1938531701, Common Code: 224346417)
(the "Class D Notes")
GBP20,105,000 Class Z Mortgage Backed Floating Rate Notes due
May 2045
(ISIN: XS1938532006, Common Code: 193853200)
(the "Class Z Notes")
GBP10,177,000 Class S Mortgage Backed Floating Rate Notes due
May 2045
(ISIN: XS1938532261, Common Code: 193853226)
(the "Class S Notes")
and
GBP9,477,658 Class S Variable Funding Note due May 2045
(the "Class S VFN" and, together with the Class A Notes, the
Class B Notes, the Class C Notes, the Class D Notes, the Class Z
Notes and the Class S Notes, the "Notes")
and all of the outstanding
100 RC1a Residual Certificates
(ISIN: XS1940985291, Common Code: 194098529)
(the "RC1a Residual Certificates")
100 RC1b Residual Certificates
(ISIN: XS1940986265, Common Code: 194098626)
(the "RC1b Residual Certificates")
100 RC2a Residual Certificates
(ISIN: XS1940987230, Common Code: 194098723)
(the "RC2a Residual Certificates")
and
100 RC2b Residual Certificates
(ISIN: XS1940987404, Common Code: 194098740)
(the "RC2b Residual Certificates" and, together with the RC1a
Residual Certificates, the RC1b Residual Certificates and the RC2a
Residual Certificates, the "Residual Certificates")
issued by the Issuer
We refer to the trust deed between the Issuer and Citicorp
Trustee Company Limited, as trustee for the Noteholders and the
Residual Certificateholders (the "Trustee"), dated 3 July 2019 (the
"Trust Deed"), pursuant to which the Notes and the Residual
Certificates were constituted, the terms and conditions of the
Notes (the "Conditions") and the terms and conditions of the
Residual Certificates (the "Residual Certificates Conditions").
Capitalised terms used but not defined in this notice have the
meanings and constructions ascribed to them in the Conditions or
the Residual Certificates Conditions or set out in the Trust Deed,
unless otherwise specified.
NOTICE IS HEREBY GIVEN to the holders of the Notes and the
Residual Certificates that, pursuant to Condition 13 (Meetings of
Noteholders and Residual Certificateholders; Modifications;
Consents; Waiver), Residual Certificates Condition 12 (Meetings of
Noteholders and Residual Certificateholders; Modifications;
Consents; Waiver), and clause 20 (Waiver; Authorisation;
Determination; Modification) of the Trust Deed, on 16 March 2023,
the Trustee:
1. authorised the entry by the Issuer into:
(a) a 1992 ISDA Master Agreement, together with a schedule
thereto, with Banco Santander S.A., London Branch (the "New Basis
Hedge Provider") and a 1995 ISDA Credit Support Annex (Bilateral
Form - Transfer) in support of Banco Santander S.A., London
Branch's obligations thereunder (the "New Basis Hedge
Agreement");
(b) a delegated reporting agreement between the Issuer and the
New Basis Hedge Provider (the "Delegated Reporting Agreement");
and
(c) a deed supplemental to the Deed of Charge pursuant to which
the New Basis Hedge Provider acceded to the Deed of Charge (the
"Accession Undertaking"); and
2. entered into the Accession Undertaking with the New Basis
Hedge Provider and the other parties thereto,
on the basis that, in its opinion, the interests of the
Noteholders and the Residual Certificateholders will not be
materially prejudiced thereby.
Copies of the Trust Deed, the Conditions, the Residual
Certificates Conditions, the New Basis Hedge Agreement and the
Accession Undertaking are available on request to the Issuer at the
address set out at the end of this Notice.
This Notice is given by
Paragon Mortgages (No.26) plc as Issuer
51 Homer Road
Solihull
West Midlands
B91 3QJ
28 March 2023
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END
MSCJPMBTMTTTBJJ
(END) Dow Jones Newswires
March 28, 2023 07:26 ET (11:26 GMT)
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