Source - RNS
RNS Number : 2704M
Vulcan(European Loan Conduit No.28)
11 October 2016
 

 

Company Name:                Vulcan (European Loan Conduit No. 28) Limited

Headline:                          Update Notice

                                                                                                                 

 

RNS Number:                    Vulcan (European Loan Conduit No. 28) Limited

 

 

RIS Notification

 

                                        11 October 2016

 

Vulcan (European Loan Conduit No. 28) Limited (the "Issuer")

 

€856,265,000 Class A Commercial Mortgage Backed Floating Rate Notes due 2017

€50,000 Class X Commercial Mortgage Backed Floating Rate Notes due 2017

€22,750,000 Class B Commercial Mortgage Backed Floating Rate Notes due 2017

€76,500,000 Class C Commercial Mortgage Backed Floating Rate Notes due 2017

€76,500,000 Class D Commercial Mortgage Backed Floating Rate Notes due 2017

€38,350,000 Class E Commercial Mortgage Backed Floating Rate Notes due 2017

€3,000,000 Class F Commercial Mortgage Backed Floating Rate Notes due 2017

€3,000,000 Class G Commercial Mortgage Backed Floating Rate Notes due 2017

Being together, the "Notes"

 

The Notes are admitted to the official list of the Irish Stock Exchange and to trading on the regulated market.

 

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.

 

Defined terms used and not defined herein having the meaning ascribed to them in the Offering Circular dated 7 August 2007.

 

 

H&B Retail Portfolio II Loan

 

We refer to the Loan Agreement dated 28 July 2006 (the "Original H&B Retail Portfolio II Agreement") which was entered into between, Morgan Stanley Bank International Limited and DavidSingleton Eastern Blizzard GmbH & Co. KG and DavidSingleton Bad Camberg Zwei GmbH & Co. KG (the "Original H&B Retail Portfolio II Borrowers") and was amended by seven amendment agreements together with the Original H&B Retail Portfolio II Agreement, (the Loan Agreement) under which DavidSingleton Retail Nummer Vier GmbH & Co KG acceded as additional Borrower (together with the Original H&B Retail Portfolio II Borrowers the "Borrowers").

 

We refer to the RIS Notice dated 11 November 2015 which confirmed that enforcement proceedings had been initiated and the loan had been extended to facilitate a pre-agreed business plan and a managed sale of the assets over time. The Issuer Special Servicer has confirmed that the New Sponsor has sold two properties in Bad Camberg for total net sales proceeds of €4,397,691.52. Funds will be applied to the outstanding loan balance on the November 2016 Interest Payment Date.

 

Furthermore the New Sponsor has yet to provide evidence confirming that the remaining assets will be sold or refinanced prior to the February 2017 Interest Payment Date. The Issuer Special Servicer is currently in discussions with the New Sponsor and further details will be disclosed in due course.

 

For queries relating to the above please contact [email protected]

 

 

 

This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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