Granite Mortgages 03-3 PLC Completion of sale of mortgage loans (2335I)

TIDM48AH

RNS Number : 2335I

Granite Mortgages 03-3 PLC

07 December 2015

Granite Mortgages 03-3 plc (the "Issuer")

(Incorporated in England and Wales as a public limited company under registered number 04823268)

7 December 2015

USD 500,000,000 Series 1 Class A3 Notes due 2044 (ISIN: US38741UAC18)

USD 72,000,000 Series 1 Class B Notes due 2044 (ISIN: US38741UAD90)

USD 27,000,000 Series 1 Class M Notes due 2044 (ISIN: US38741UAE73)

USD 50,000,000 Series 1 Class C Notes due 2044 (ISIN: US38741UAF49)

EUR 640,000,000 Series 2 Class A Notes due 2044 (ISIN: XS0176409927)

EUR 23,000,000 Series 2 Class B Notes due 2044 (ISIN: XS0176410180)

EUR 7,500,000 Series 2 Class M Notes due 2044 (ISIN: XS0176410347)

EUR 55,000,000 Series 2 Class C Notes due 2044 (ISIN: XS0176410420)

GBP 340,000,000 Series 3 Class A Notes due 2044 (ISIN: XS0176410693)

GBP 28,500,000 Series 3 Class B Notes due 2044 (ISIN: XS0176410776)

GBP 11,500,000 Series 3 Class M Notes due 2044 (ISIN: XS0176410859)

GBP 7,500,000 Series 3 Class C Notes due 2044 (ISIN: XS0176411071)

COMPLETION OF THE SALE OF MORTGAGE LOANS

We refer to the notice published by the Issuer entitled "AMENDMENTS TO TRANSACTION DOCUMENTS" dated 13 November 2015 (the "Notice"). Terms used and not defined herein shall have the same meanings given thereto in (i) the master definitions schedule dated 26 March 2001 as amended, supplemented and varied from time-to-time, (ii) the issuer master definitions schedule, dated 24 September 2003, and (iii) the Notice.

As contemplated in the Notice, NRAM has exercised the Seller Call Option today in accordance with the terms of the Mortgage Trust Deed which requires the sale of the Mortgage Loans to the Purchaser (being Cerberus European Residential Holdings B.V.) by the Mortgages Trustee.

The proceeds of the sale of the Mortgage Loans shall be applied in the redemption of the Notes with the result that the Notes shall be redeemed in full, together with the payment of any accrued but unpaid interest, on the Payment Date scheduled to fall on 20 January 2016.

For further information, please contact:

NRAM plc

Croft Road

Crossflatts

Bingley

West Yorkshire

BD16 2UA

   Attention:          Neil Vanham 
   Telephone:        [phone] 

This information is provided by RNS

The company news service from the London Stock Exchange

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December 07, 2015 08:58 ET (13:58 GMT)