THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF NOTEHOLDERS. IF NOTEHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, THEY SHOULD SEEK THEIR OWN FINANCIAL, LEGAL OR OTHER PROFESSIONAL ADVICE, INCLUDING AS TO ANY TAX CONSEQUENCES, IMMEDIATELY FROM THEIR STOCKBROKER, SOLICITOR, ACCOUNTANT OR OTHER INDEPENDENT FINANCIAL, LEGAL OR OTHER PROFESSIONAL ADVISER
If you have recently sold or otherwise transferred your entire holding(s) of the Notes referred to below, you should immediately forward this document to the purchaser or transferee or to the broker, bank or other agent through whom the sale or transfer was effected for transmission to the purchaser or transferee.
NOTICE TO NOTEHOLDERS
To the holders of the £192,270,000 8.25 per cent. Secured Loan-Backed Notes due June 2027 ISIN: XS0073407537
issued by Housing Association Funding PLC
Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 (Market Abuse Regulation) requires disclosure by or on behalf of the Issuer of any inside information concerning the Issuer.
Capitalised terms used but not otherwise defined herein shall have the meanings ascribed to them in the master schedule of definitions, interpretation and construction clauses dated 23 January 1997, as amended and restated on 30 January 1998, as amended and restated on 23 December 1999, as amended and restated on 29 June 2005, as amended and restated on 7 December 2009, as amended and restated on 11 February 2010 and as further amended and restated on 31 January 2017.
We refer to the notice of the Issuer dated 13 April 2021 in which the Issuer informed Noteholders that Optivo (formerly known as Servite Houses and Viridian Housing) (“Optivo”) provided notice of prepayment of their loan, together with interest accrued up to the date of prepayment and the relevant Prepayment Premium on the next Combined Payment Date (as defined in its Loan Agreement and the Consent Solicitation Memorandum) on 4 June 2021.
Pursuant to the terms of the Loan Agreement the Issuer notified the Borrower and the Trustee of the price determined by the Issuer’s financial adviser under Condition 5(g) for the corresponding redemption of the Notes over par (if any).
The Issuer has received the following amounts in relation to the prepayment:
£20,137,568.05 being the total principal outstanding under its loans.
£2,046,209.87 comprising the relevant Combined Payment.
£4,151,472.17 comprising the relevant Prepayment Premium.
£55,935.50 of outstanding fees, costs and expenses payable by Paradigm Homes Charitable Housing Association Limited.
Pursuant to the Supplemental Trust Deed, the amount of the prepayment is required to be applied to redeem the Notes on the Interest Payment Date (as defined in the Trust Deed) falling on 7 June 2021 in accordance with the terms of the Transaction Documents.
Queries may be addressed to the Issuer as follows:
Housing Association Funding PLC:
Address: 125 Wood Street, London, United Kingdom, EC2V 7AN
Attention: The Directors
Telephone: +44 203 994 7157
HOUSING ASSOCIATION FUNDING PLC
4 June 2021