Source - RNS
RNS Number : 5321T
Globaldrive Auto Rec 2014-A B.V
13 October 2017
 

Globaldrive Auto Receivables 2014-A B.V.

(a private company incorporated with limited liability in the Netherlands)

(the "Issuer")  

Notice of Redemption to Noteholders


€500,000,000.00 Class A Floating Rate Asset Backed Notes due 2022 (Reg S ISIN: XS1059372455) (the "Class A Notes")

€16,300,000.00 Class B Floating Rate Asset Backed Notes due 2022 (Reg S ISIN: XS1059373008) (the "Class B Notes")  

€27,199,222.32 Class C Fixed Rate Asset Backed Notes due 2022 (the "Class C Notes", together with the Class A Notes and Class B Notes, the "Notes") 

 

We refer to Condition 5(d) of the Notes whereby the Issuer may, at its option, redeem all or some of the Notes on any Interest Payment Date, in accordance with the Conditions of the Notes.      

The Issuer has certified that pursuant to Clause 10 of the receivables sale agreement dated 28 May 2014 between, inter alia, the Issuer and FCE Bank plc as Seller (the "Receivables Sale Agreement"), on the Interest Payment Date falling in November 2017, being 20 November 2017 (the "Redemption Date"), the aggregate principal amount outstanding of the Class A Notes and the Class B Notes will be 10% or less than the initial Aggregate Closing Loan Balance as at the Cut-Off Date.      

NOTICE IS HEREBY GIVEN that all of the Notes will be redeemed on the Redemption Date, pursuant to Condition 5(d). The Notes will be redeemed in an amount equal to the aggregate principal amount outstanding of such Notes together with any interest accrued up to but excluding the Redemption Date.  

Payment in relation to the Class A and B Notes will be made in accordance with the usual procedures of Clearstream, Luxembourg and/or Euroclear. The Class C Notes are to be delivered to Deutsche Bank AG, London Branch (the "Principal Paying Agent") at the address below as soon as possible and, in any event, no later than the Redemption Date. Payment in respect of the Class C Notes will only be made upon receipt by the Principal Paying Agent of such Class C Notes.     

Capitalised terms used but not defined in this notice will have the meaning ascribed to them in Schedule 1 (the Definitions Schedule) of the Receivables Sale Agreement. This notice is irrevocable.

Trustee:

Deutsche Trustee Company Limited

Winchester House

1 Great Winchester Street

London

EC2N 2DB

United Kingdom

Principal Paying Agent:

Deutsche Bank AG, London Branch

Winchester House

1 Great Winchester Street

London

EC2N 2DB

United Kingdom  

  

This Notice is given by

Globaldrive Auto Receivables 2014-A B.V.

c/o Deutsche International Trust Company N.V.

De Entree 99-197  

1101 HE Amsterdam  

The Netherlands

Dated:  13 October 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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