Source - RNS
RNS Number : 5116H
Channel Link Enterprises Fin Plc
08 June 2017
 

CHANNEL LINK ENTERPRISES FINANCE PLC
(the Issuer)
(Incorporated in England and Wales with registered number 06169713)

NOTICE

To the holders of those of the:

£300,000,000 Tranche G1 Secured Index Linked Notes due 2042
(ISIN: XS0314406371)
£150,000,000 Tranche G2 Secured Index Linked Notes due 2042
(ISIN: XS0314408153)
£300,000,000 Tranche G3 Secured Index Linked Notes due 2042
(ISIN: XS0314418038)
€73,000,000 Tranche G4 Secured Index Linked Notes due 2041
(ISIN: XS0314423111)
€147,000,000 Tranche G5 Secured Index Linked Notes due 2041
(ISIN: XS0316010023)
€147,000,000 Tranche G6 Secured Index Linked Notes due 2041
(ISIN: XS0316010536)
£400,000,000 Tranche A1 Secured Fixed Rate Notes due 2046
(ISIN: XS0314427534)
€645,000,000 Tranche A2 Secured Fixed Rate Notes due 2041
(ISIN: XS0314428185)
£350,000,000 Tranche A5 Secured Variable Rate Notes due 2050
(ISIN: XS1620778131)
£336,500,000 Tranche A6 Secured Fixed Rate Notes due 2050
(ISIN: XS1620778727)

€425,000,000 Tranche A7 Secured Variable Rate Notes due 2050

(ISIN: XS1620779964)

€528,000,000 Tranche A8 Secured Variable Rate Notes due 2050

(ISIN: XS1620780202)

€83,000,000 Tranche A9 Secured Fixed Rate Notes due 2050

(ISIN: XS1620780897)

€140,000,000 Tranche A10 Secured Fixed Rate Notes due 2050

of the Issuer presently outstanding
(the Noteholders and the Notes, respectively)
£175,000,000 Floating Rate Liquidity Notes due 2050
(ISIN: XS0316009017)
€160,000,000 Floating Rate Liquidity Notes due 2050
(ISIN: XS0316008399)

of the Issuer presently outstanding
(the Liquidity Noteholders and the Liquidity Notes, respectively)

and to the holders of those of the:
2 Sterling Secured Residual Certificates due 2050
(ISIN: XS0317046349 and XS0317046935)
2 Euro Secured Residual Certificates due 2050
(ISIN: XS0317047230 and XS0317047404)

of the Issuer presently outstanding
(the R Certificates and the R Certificateholders respectively)

 

NOTICE IS HEREBY GIVEN by the Issuer to the Noteholders, the Liquidity Noteholders and the R Certificateholders that the Issuer has entered into the following documents, amongst others:

(i)     a global deed of amendment dated 24 May 2017 and entered into by, among others, the Issuer, Deutsche Trustee Company Limited (as Trustee, Borrower Security Trustee and SPV Lender Trustee) and Assured Guaranty (Europe) plc (formerly known as Assured Guaranty (Europe) Ltd.) (as Monoline and AG 2017 Financial Guarantor), amending and restating certain documents including the Permanent Facility Agreement, the Intercreditor Agreement, the Issuer Cash Administration Agreement, the Trust Deed, the Incorporated Terms Memorandum, the Post-enforcement Call Option Agreement, the TRS Documents and the Margin Basis Swaps Documents;

(ii)    a global deed of amendment dated 19 May 2017 and entered into between, among others, the Issuer, Deutsche Trustee Company Limited (as Trustee, Borrower Security Trustee and SPV Lender Trustee) and Assured Guaranty (Europe) plc (formerly known as Assured Guaranty (Europe) Ltd.) (as Monoline) and Goldman Sachs International, Deutsche Bank AG, London Branch and AIG Financial Products Corp. (as Borrower Hedge Counterparties), amending and restating the Borrower Hedge Agreements;

(iii)    a 2017 Permanent Facility Assignment Agreement dated 6 June 2017 and entered into between the Issuer, Goldman Sachs International Bank (as an Existing Lender) and Deutsche Bank AG, London Branch (as an Existing Lender and Facility Agent);

(iv)   a subscription agreement dated 24 May 2017 and entered into between the Issuer, The Channel Tunnel Group Limited and France-Manche S.A. (as Borrowers), Groupe Eurotunnel S.E. (as Parent) and Goldman Sachs International and Deutsche Bank AG, London Branch (as Lead Managers);

(v)    a supplemental paying agency agreement dated 24 May 2017 and entered into between the Issuer, Deutsche Bank AG, London Branch (as Principal Paying Agent), Deutsche International Corporate Services (Ireland) Limited (as Irish Paying Agent), Deutsche Bank AG, London Branch (as Agent Bank), Deutsche Trustee Company Limited (as Trustee) and Deutsche Bank Luxembourg S.A. (as Registrar, Replacement Agent and Transfer Agent);

(vi)   a supplemental security deed dated 6 June 2017 and entered into between the Issuer and Deutsche Trustee Company Limited (as Trustee);

(vii)   a supplemental obligor floating charge agreement dated 6 June 2017 and entered into between, among others, the Issuer, The Channel Tunnel Group Limited, France-Manche S.A. and Deutsche Trustee Company Limited (as SPV Lender Trustee and Borrower Security Trustee);

(viii)  a guarantee and reimbursement deed dated 24 May 2017 and entered into between, amongst others, Assured Guaranty (Europe) plc (formerly Assured Guaranty (Europe) Ltd.), Assured Guaranty Municipal Corp., The Channel Tunnel Group Limited and the Issuer;

(ix)   a deed of guarantee dated 24 May 2017 and entered into between Assured Guaranty (Europe) plc (formerly Assured Guaranty (Europe) Ltd.), the Issuer and Deutsche Trustee Company Limited; and

(x)    a deed of guarantee dated 24 May 2017 and entered into between Assured Guaranty Municipal Corp., the Issuer and Deutsche Trustee Company Limited,

  (together, the 2017 Refinancing Agreements).

The 2017 Refinancing Agreements have been entered into in connection with the refinancing by The Channel Tunnel Group Limited and France-Manche S.A. (the Borrowers) of certain tranches of sterling and euro floating rate loans (the Refinanced Loans) made available to the Borrowers under a facility agreement entered into on 20 March 2007 as amended from time to time (the PFA). The Refinanced Loans have been replaced with new loans under the PFA, the ultimate source of funds for which is the issuance of the Tranche A5 Notes, the Tranche A6 Notes, the Tranche A7 Notes, the Tranche A8 Notes, the Tranche A9 Notes and the Tranche A10  Notes by the Issuer, the proceeds of which have been directly or indirectly on-lent to the Borrowers.

The refinancing involves the prepayment by the Borrowers of the Refinanced Loans, the proceeds of which have been used by the Issuer by way of mandatory redemption of the Tranche A3 Notes and the Tranche A4 Notes. Following the redemption of the Tranche A3 Notes and the Tranche A4 Notes, in accordance with the conditions of the Liquidity Notes, part of the Liquidity Notes will be redeemed.

Those of the 2017 Refinancing Agreements to which the Trustee is a party have been executed following and pursuant to the approval and direction of the Controlling Creditor.

Copies of the 2017 Refinancing Agreements are available for inspection at the offices of the Issuer and the Principal Paying Agent.

Capitalised terms used but not defined in this Notice have the meaning given to them in the Issuer's prospectus dated 24 May 2017.

Deutsche Bank AG, London Branch is the Principal Paying Agent and has its offices at the following address:

Winchester House
1 Great Winchester Street
London EC2N 2DB

This Notice is given by:

Channel Link Enterprises Finance PLC
c/o Wilmington Trust SP Services (London) Limited
Third Floor
1 King's Arms Yard
London EC2R 7AF

Dated: 7 June 2017

 

 

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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