Paragon Mortgages (No.12) PLC Result of Meeting

RNS Number : 4098L

Paragon Mortgages (No.12) PLC

08 November 2024

 

Notice of Result of adjourned Meeting

 

NOTICE

To the Holders of the Outstanding

U.S.$1,500,000,000 Class A1 Notes due 2038 which, on 15 May 2019, were redenominated as GBP Class A1 Notes, (ISIN: XS0261644941) (the "Class A1 Notes")

£145,000,000 Class A2a Notes due 2038 (ISIN: XS0261646136) (the "Class A2a Notes")

€245,000,000 Class A2b Notes due 2038 (ISIN: XS0261646565) (the "Class A2b Notes")

U.S.$311,000,000 Class A2c Notes due 2038 (Rule 144A Note CUSIP: 69913BAB2 / Reg S Note ISIN: XS0261647027)

£25,000,000 Class B1a Notes due 2038 (ISIN: XS0261647886)

€126,000,000 Class B1b Notes due 2038 (ISIN: XS0261648850)

£17,000,000 Class C1a Notes due 2038 (ISIN: XS0261650161)

€106,000,000 Class C1b Notes due 2038 (ISIN: XS0261650674)

(together, the "Notes")

Issued by Paragon Mortgages (No.12) plc (the "Issuer")

 

Reference is made to the Notice of Results of Meeting to the holders of the U.S.$311,000,000 Class A2c Notes due 2038 (Rule 144A Note CUSIP: 69913BAB2 / Reg S Note ISIN: XS0261647027), £25,000,000 Class B1a Notes due 2038 (ISIN: XS0261647886), €126,000,000 Class B1b Notes due 2038 (ISIN: XS0261648850), £17,000,000 Class C1a Notes due 2038 (ISIN: XS0261650161) and €106,000,000 Class C1b Notes due 2038 (ISIN: XS0261650674) dated 25 October 2024 (the "Notice of Results of Meeting") and the notices of adjourned meeting to the holders of the Class A1 Notes, Class A2a Notes and Class A2b Notes (each an "Adjourned Series") dated 25 October 2024 (each a "Notice of Adjourned Meeting", together, the "Notices of Adjourned Meeting"). Capitalised terms used and not otherwise defined in this announcement have the meanings given to them in the Notice of Results of Meeting or the relevant Notice of Adjourned Meeting, as applicable, available from the Consent Website: https://projects.sodali.com/paragon.

NOTICE IS HEREBY GIVEN to the holders of each series of the above Notes that, at each relevant Adjourned Meeting of the holders of each Adjourned Series held at or around 10:00 a.m. (London time) on 8 November 2024 at the offices of Clifford Chance LLP at 10 Upper Bank Street, London, E14 5JJ, United Kingdom, the Extraordinary Resolutions set out in the relevant Notices of Adjourned Meeting previously notified to holders of each Adjourned Series on 25 October 2024 in accordance with the terms of the Trust Deed were duly passed for each Adjourned Series.

IT IS NOTED THAT as the Extraordinary Resolutions constitute a Basic Terms Modification under the Conditions of the Notes and as the Extraordinary Resolutions in relation to each Adjourned Series have been duly passed, the Issuer will implement the Proposal. Accordingly, the USD Notes and cross currency swap will be amended to effect the Proposal, with effect from the Effective Date (being the Interest Payment Date for the USD Notes falling in November 2024). The First Interest Payment Date with a SOFR Reference Rate and the adjusted margin on the USD Notes will be the Interest Payment Date falling in February 2025.

 

Further information relating to the Proposal can be obtained from the Solicitation Agent:

 

Lloyds Bank Corporate Markets plc

10 Gresham Street

London EC2V 7AE

Telephone: [phone]/1726

Attention: Liability Management Team

Email: [e-mail]

 

Requests for documentation and information in relation to the procedures for delivering consent instructions should be directed to the Information and Tabulation Agent at:

 

Sodali & Co

Leadenhall Building

122 Leadenhall St

City of London, EC3V 4AB

Telephone: [phone] (U.K.) / [phone] (U.S.)

Email: [e-mail]  

Consent Website: https://projects.sodali.com/paragon

 

PARAGON MORTGAGES (NO.12) PLC

8 November 2024

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END

 

 

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