1 APRIL 2016
LEEK FINANCE NUMBER NINETEEN PLC ANNOUNCEMENT TO EXISTING NOTEHOLDERS IN RESPECT OF £110,000,000 CLASS A2A MORTGAGE BACKED FLOATING RATE NOTES DUE 2038 (ISIN: XS0294479778), U.S.$624,100,000 CLASS A2B MORTGAGE BACKED FLOATING RATE NOTES DUE 2037 (REGULATION S NOTES: ISIN: XS0294480602, RULE 144A NOTES: ISIN: US52426WAB28), €124,500,000 CLASS A2C MORTGAGE BACKED FLOATING RATE NOTES DUE 2038 (ISIN: XS0294482483), £23,000,000 CLASS MA MORTGAGE BACKED FLOATING RATE NOTES DUE 2038 (ISIN: XS0294483614), €68,000,000 CLASS MC MORTGAGE BACKED FLOATING RATE NOTES DUE 2038 (ISIN: XS0294484349), £12,000,000 CLASS BA MORTGAGE BACKED FLOATING RATE NOTES DUE 2038 (ISIN: XS0294484778), €51,000,000 CLASS BC MORTGAGE BACKED FLOATING RATE NOTES DUE 2038 (ISIN: XS0294485072), £6,000,000 CLASS CA MORTGAGE BACKED FLOATING RATE NOTES DUE 2038 (ISIN: XS0294485403), €32,900,000 CLASS CC MORTGAGE BACKED FLOATING RATE NOTES DUE 2038 (ISIN: XS0294486476), £13,000,000 CLASS DA MORTGAGE BACKED FLOATING RATE NOTES DUE 2038 (ISIN: XS0294486559), AND €6,700,000 CLASS DC MORTGAGE BACKED FLOATING RATE NOTES DUE 2038 (ISIN: XS0294486716).
Leek Finance Number Nineteen PLC (the Issuer) announces to the holders of the outstanding £110,000,000 Class A2a Mortgage Backed Floating Rate Notes due 2038 (ISIN: XS0294479778) (the Class A2a Notes), U.S.$624,100,000 Class A2b Mortgage Backed Floating Rate Notes due 2037 (Regulation S Notes: ISIN: XS0294480602, Rule 144A Notes: ISIN: US52426WAB28) (the Class A2b Notes), €124,500,000 Class A2c Mortgage Backed Floating Rate Notes due 2038 (ISIN: XS0294482483) (the Class A2c Notes) (the Class A2a Notes, the Class A2b Notes and the Class A2c Notes together, the Class A2 Notes), £23,000,000 Class Ma Mortgage Backed Floating Rate Notes due 2038 (ISIN: XS0294483614) (the Class Ma Notes), €68,000,000 Class Mc Mortgage Backed Floating Rate Notes due 2038 (ISIN: XS0294484349) (the Class Mc Notes) (the Class Ma Notes and the Class Mc Notes together, the Class M Notes), £12,000,000 Class Ba Mortgage Backed Floating Rate Notes due 2038 (ISIN: XS0294484778) (the Class Ba Notes), €51,000,000 Class Bc Mortgage Backed Floating Rate Notes due 2038 (ISIN: XS0294485072) (the Class Bc Notes) (the Class Ba Notes and the Class Bc Notes together, the Class B Notes), £6,000,000 Class Ca Mortgage Backed Floating Rate Notes due 2038 (ISIN: XS0294485403) (the Class Ca Notes), €32,900,000 Class Cc Mortgage Backed Floating Rate Notes due 2038 (ISIN: XS0294486476) (the Class Cc Notes) (the Class Ca Notes and the Class Cc Notes together, the Class C Notes), £13,000,000 Class Da Mortgage Backed Floating Rate Notes due 2038 (ISIN: XS0294486559) (the Class Da Notes), and €6,700,000 Class Dc Mortgage Backed Floating Rate Notes due 2038 (ISIN: XS0294486716) (the Class Dc Notes) (the Class Da Notes and the Class Dc Notes together, the Class D Notes) (the Class A2 Notes, the Class M Notes, the Class B Notes, the Class C Notes and the Class D Notes together, the Notes) that following the transfer of certain assets (including the legal title in all mortgage assets owned by Platform Funding Limited (PFL) and beneficially owned by the Issuer) and contractual obligations from PFL to the Co-operative Bank (the Bank, and such transfer, the Reorganization), the Bank has replaced PFL in its various capacities in certain of the Transaction Documents entered into by the Issuer in relation to the Notes (the Novation). The Novation has been effected through a deed of novation entered into among, inter alios, the Issuer, the Trustee and other Secured Creditors (the Deed of Novation) and a deed of assumption and resignation entered into among, inter alios, the Issuer and the Security Trustee (the Deed of Assumption and Resignation).
Further, pursuant to the Reorganization, certain amendments are also made to the PFL Declaration of Trust and the Administration Agreement.
Copies of the Deed of Novation, the Deed of Assumption and Resignation and the amended versions of the PFL Declaration of Trust and the Administration Agreement are available for inspection by Existing Noteholders at the specified office of the Principal Paying Agent set out below.
Capitalised terms used but not defined in this announcement have the meanings (as applicable) given in the master framework agreement made between the Issuer and the Trustee dated 12 April 2006 (as the same has been amended, restated and/or supplemented from time to time including without limitation on 31 January 2014.)
The Principal Paying Agent
HSBC Bank plc
8 Canada Square
London E14 5HQ
Attn: The Senior Manager, CT Client Services, Corporate Trust and Loan Agency
