NewDay Funding 2019-1 PLC Notice to Noteholders (7921I)

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RNS Number : 7921I

NewDay Funding 2019-1 PLC

20 April 2022

Notice to noteholders

NewDay Funding 2019-1 PLC

20 April 2022

THIS NOTICE CONTAINS IMPORTANT INFORMATION OF INTEREST TO THE REGISTERED AND BENEFICIAL OWNERS OF THE NOTES (AS DEFINED BELOW). IF APPLICABLE, ALL DEPOSITARIES, CUSTODIANS AND OTHER INTERMEDIARIES RECEIVING THIS NOTICE ARE REQUESTED TO PASS THIS NOTICE TO SUCH BENEFICIAL OWNERS IN A TIMELY MANNER.

If you are in any doubt as to the action you should take, you are recommended to seek your own financial advice immediately from your stockbroker, bank manager, solicitor, accountant or other financial adviser authorised under the Financial Services and Markets Act 2000 (if you are in the United Kingdom), or from another appropriately authorised independent financial adviser and such other professional advice from your own professional advisers as you deem necessary.

This Notice is addressed only to current holders of the Notes (as defined below) and persons to whom it may otherwise be lawful to distribute it ("relevant persons"). It is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this Notice relates is available only to relevant persons and will be engaged in only with relevant persons.

If you have recently sold or otherwise transferred your entire holding(s) of Notes referred to below, you should immediately forward this document to the purchaser or transferee or to the stockbroker, bank or other agent through whom the sale or transfer was effected for transmission to the purchaser or transferee.

THIS NOTICE DOES NOT CONSTITUTE OR FORM PART OF, AND SHOULD NOT BE CONSTRUED AS, AN OFFER FOR SALE, EXCHANGE OR SUBSCRIPTION OF, OR A SOLICITATION OF ANY OFFER TO BUY, EXCHANGE OR SUBSCRIBE FOR, ANY SECURITIES OF THE ISSUER OR ANY OTHER ENTITY IN ANY JURISDICTION.

NEWDAY FUNDING 2019-1 PLC

1 Bartholomew Lane

London EC2N 2AX

Registered number 11827115

(the " Issuer ")

RNS ANNOUNCEMENT IN RESPECT OF CERTAIN REDEMPTION AND RESERVE MATTERS

to current holders of the following notes of the Issuer

presently outstanding

GBP149,700,000 Class A Asset Backed Floating Rate Notes due 2027

(Reg S ISIN: XS2001273668 / Rule 144A ISIN: XS2001273825 )

GBP23,100,000 Class B Asset Backed Floating Rate Notes due 2027

   (Reg S ISIN:   XS2001274559 / Rule 144A ISIN: XS2001274989 ) 

GBP33,900,000 Class C Asset Backed Floating Rate Notes due 2027

   (Reg S ISIN:   XS2001274393 / Rule 144A ISIN: XS2001274476 ) 

GBP42,300,000 Class D Asset Backed Floating Rate Notes due 2027

   (Reg S ISIN:   XS2001275101 / Rule 144A ISIN: XS2001275440 ) 

GBP23,700,000 Class E Asset Backed Floating Rate Notes due 2027

   (Reg S ISIN:   XS2001275879 / Rule 144A ISIN: XS2001275952 ) 

GBP12,300,000 Class F Asset Backed Floating Rate Notes due 2027

   (Reg S ISIN:   XS2001276257 / Rule 144A ISIN: XS2001276414 ) 

(the " Notes ")

On 20 April 2022, (i) the Series 2022-1 Notes were issued by NewDay Funding Master Issuer Plc and were designated as a Replacement Series in respect of the Notes and (ii) certain amendments were made such that, subject to an amount equal to the Series 2019-1 Investor Interest standing to the credit of the Series 2019-1 Principal Funding Ledger, the Scheduled Redemption Date in respect of the Class F Loan Note and the Class F Notes shall fall on 20 April 2022.

Part of the proceeds of the Series 2022-1 Notes in an amount equal to GBP285,000,000 (which is also equal to the Series 2019-1 Series Investor Interest) will be paid to the Receivables Trustee and credited to the Series 2019-1 Principal Funding Ledger. Upon the Receivables Trustee's receipt of those proceeds, Series 2019-1 will be fully pre-funded ahead of its Scheduled Redemption Date falling on the Interest Payment Date falling in June 2022 and, as such, the Class F Loan Note and the Class F Notes shall be redeemed in full on 20 April 2022.

As a result of such pre-funding and following a Rating Confirmation, the Required Liquidity Reserve Amount for Series 2019-1 has been reduced to zero and the Series 2019-1 Originator VFN Subordination has been reduced to zero. At closing of the issue of the Series 2022-1 Notes, GBP850,000 shall be credited to the Series 2019-1 Accumulation Reserve Ledger to fund monthly waterfall payments for Class B, Class C, Class D and Class E for each Transfer Date prior to the Scheduled Redemption Date for Series 2019-1.

Capitalised terms used, but not defined, in this Notice have the meanings given to them in the prospectus dated 7 June 2019.

Should any Noteholder have any queries in relation to this Notice, such Noteholder should contact the Issuer using the below contact details.

 
 Contact Details: 
 Issuer:              1 Bartholomew Lane 
                       London EC2N 2AX 
                       Email: [e-mail] 
                       Attention: The Directors 
 

This Notice is given by

NEWDAY FUNDING 2019-1 PLC

as Issuer

Dated 20 April 2022

LEI: 213800M48PYFAQSGFY49

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(END) Dow Jones Newswires

April 20, 2022 10:03 ET (14:03 GMT)