HERCULES (ECLIPSE 2006-4) PLC
£666,000,000 Class A Commercial Mortgage Backed Floating Rate Notes due 2018
ISIN (Reg S Notes) XS0276410080
£43,950,000 Class B Commercial Mortgage Backed Floating Rate Notes due 2018
ISIN (Reg S Notes) XS0276410833
£25,000,000 Class C Commercial Mortgage Backed Floating Rate Notes due 2018
ISIN (Reg S Notes) XS0276412375
£51,000,000 Class D Commercial Mortgage Backed Floating Rate Notes due 2018
ISIN (Reg S Notes) XS0276413183
£29,000,000 Class E Commercial Mortgage Backed Floating Rate Notes due 2018
ISIN (Reg S Notes) XS0276413340
being together, the "Notes"
The Notes are admitted to trading on the regulated market of The Irish Stock Exchange Limited.
Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation together with Implementing Directive 2003/124/EC as implemented by the relevant member state requires disclosure of inside information relating to the Issuer.
Capitalised terms used in this notice but not defined herein shall have the meanings given to such terms in the Offering Circular in respect of the Notes dated 5 December 2006.
The Servicer has informed the Issuer of the following:
"Update of the Welbeck Portfolio Loan
Reference is made to the Loan referred to as the "The Welbeck Portfolio Loan" in the Offering Circular.
As notified by announcement of the Issuer dated 19 July 2016, a Loan Event of Default has occurred and is continuing in relation to the Welbeck Portfolio Loan as a result of the Welbeck Borrower failing to pay in full all amounts due and payable in relation to the Welbeck Portfolio Loan on the Loan Maturity Date of 17 July 2016 and accordingly, the Welbeck Portfolio Loan became a Specially Serviced Loan as of 20 July 2016.
Following the Welbeck Portfolio Loan becoming a Specially Serviced Loan, a valuation of the 43 property portfolio of principally secondary/tertiary retail assets securing the Welbeck Portfolio Loan has been commissioned (the "Valuation Report") by the Special Servicer to provide up to date data points and facilitate meaningful dialogue already entered into with the Welbeck Borrower. The Special Servicer's objective at the current time is to fully explore all consensual exit options should these offer a clear prospect of the highest value recovery, taking into consideration the time to recovery for each respective exit option.
The Valuation Report is expected to be received in draft format by the Special Servicer by the first week of October 2016, when a meeting with the Welbeck Borrower is planned to coincide.
The Special Servicer will provide further updates when it is able to."
Special Servicer contact:
Capita Asset Services (London) Limited
40 Dukes Place
E-mail: [email protected]
Hercules (ECLIPSE 2006-4) plc
35 Great St Helen's
(in its capacity as Issuer)
BNY Mellon Corporate Trustee Services Limited
One Canada Square
(in its capacity as Trustee)
Date: 13 September 2016
This announcement has been issued through the Companies Announcement Service of
The Irish Stock Exchange
This information is provided by RNS