9 September 2016
Aire Valley Mortgages 2007-2 plc (the "Issuer")
(incorporated in England and Wales as a public limited company under registered number 06374633)
GBP 500,000,000 Class A1 Asset Backed Floating Rate Notes due October 2066
GBP 299,280,000 Class A2 Asset Backed Floating Rate Notes due October 2066
GBP 73,000,000 Class B Asset Backed Floating Rate Notes due October 2066
GBP 84,000,000 Class C Asset Backed Floating Rate Notes due October 2066
(together, the "Notes")
Capitalised terms used but not otherwise defined herein shall have the meanings ascribed to them in the master definitions and construction schedule dated 4 October 2004 as varied, amended and supplemented from time to time (the "Master Definitions and Construction Schedule") or, as the case may be, the issuer master definitions and construction schedule dated 14 November 2007 as varied, amended and supplemented from time-to-time (the "Issuer Master Definitions and Construction Schedule").
As at the date of this notice, the entire outstanding principal amount of the Notes is held by Bradford & Bingley plc ("B&B").
Redemption of the Notes
The Issuer has entered into a global deed of release, termination and amendment (the "Global Deed") with, among others, B&B, Funding 1 and the Mortgages Trustee. Pursuant to the Global Deed:
(i) B&B has confirmed that it shall make a Refinancing Contribution in accordance with the terms thereof on 20 September 2016 (the "Notes Redemption Date");
(ii) the Notes Redemption Date shall be designated a quarterly Note Payment Date for the purposes of the Notes; and
(iii) the Notes shall be redeemed in their entirety on the Notes Redemption Date.
Following the redemption of the Notes on the Notes Redemption Date, the Transaction Documents shall be terminated and the Issuer Security released in accordance with the terms of the Global Deed.
This announcement contains inside information.
For further information, please contact:
Aire Valley Mortgages 2007-2 plc
35 Great St. Helen's
Attention: Debra Parsall
Position: Director, Corporate Services - Transaction Management (responsible for arranging the release of this announcement)
Telephone: +44 (0)20 7398 6300
Bradford & Bingley plc
Attention: Neil Vanham
Telephone: +44 (0) 1274 806 341
This information is provided by RNS