TIDM64RO

RNS Number : 9679P

Sandwell Commercial Finance No1 PLC

06 September 2017

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.

SANDWELL COMMERCIAL FINANCE NO.1 PLC

Wilmington Trust SP Services (London) Limited

Third Floor

1 King's Arms Yard

London EC2R 7AF

(the "Issuer")

NOTICE OF MODIFICATION

to the holders of the following notes of the Issuer

presently outstanding

GBP205,000,000 Class A Mortgage Backed Floating Rate Notes due 2039 (XS0191369221)

GBP17,500,000 Class B Mortgage Backed Floating Rate Notes due 2039 (XS0191371391)

GBP12,500,000 Class C Mortgage Backed Floating Rate Notes due 2039 (XS0191372522)

GBP10,000,000 Class D Mortgage Backed Floating Rate Notes due 2039 (XS0191373686)

GBP5,000,000 Class E Mortgage Backed Floating Rate Notes due 2039 (XS0191373926)

(the "Noteholders" and the "Notes", respectively)

We refer to the trust deed dated 19 May 2004 (as amended from time to time, the "Trust Deed") and the Incorporated Terms Memorandum dated 19 May 2004 (the "ITM") between inter alios the Issuer and Citicorp Trustee Company Limited as Trustee.

NOTICE IS HEREBY GIVEN by the Issuer to the Noteholders in accordance with Condition 14 (Notice to Noteholders) of the Terms and Conditions of the Notes set out in the Prospectus that, pursuant to the definition of "Collection Accounts" as set out in clause 1 (Definitions) of Schedule 1 (Master Definitions Schedule) of the ITM, and pursuant to clause 17 (Modifications) of the Trust Deed, as a result of certain internal requirements of the Collection Account Bank, the Trustee has consented to designation of two additional accounts as Collection Accounts. No changes have been made to the identity of the Collection Account Bank or the terms on which the Collection Accounts are held or operated.

Copies of the Trust Deed 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 ITM.

Noteholders with queries concerning the content of this Notice are kindly requested to contact the Issuer using the details set out below:

 
 Contact Details: 
 Issuer:            Sandwell Commercial Finance 
                     No.1 PLC 
                     c/o Wilmington Trust SP Services 
                     (London) Limited 
                     Third Floor 
                     1 King's Arms Yard 
                     London EC2R 7AF

This Notice is given by

SANDWELL COMMERCIAL FINANCE NO.1 PLC

as Issuer

Dated 6 September 2017

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

September 06, 2017 05:44 ET (09:44 GMT)

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