TIDM58XU
RNS Number : 6714E
NewDay Funding 2018-2 PLC
08 July 2021
Notice to noteholders
NewDay Funding 2018-2 plc
8 July 2021
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 2018-2 PLC
1 Bartholomew Lane
London EC2N 2AX
Registered number 11514399
(the " Issuer ")
RNS ANNOUNCEMENT IN RESPECT OF CERTAIN REDEMPTION AND RESERVE
MATTERS
to current holders of the following notes of the Issuer
presently outstanding
$150,000,000 Class A1 Asset Backed Floating Rate Notes due
December 2026
(Reg S ISIN: XS1882672899 / Rule 144A ISIN: US65120BAA17 /
CUSIP: 65120BAA1)
GBP33,300,000 Class A2 Asset Backed Floating Rate Notes due
December 2026
(Reg S ISIN:XS1882673194 / Rule 144A ISIN: XS1882673434)
GBP23,100,000 Class B Asset Backed Floating Rate Notes due
December 2026
(Reg S ISIN:XS1882673608 / Rule 144A ISIN: XS1882673780)
GBP33,900,000 Class C Asset Backed Floating Rate Notes due
December 2026
(Reg S ISIN:XS1882673947 / Rule 144A ISIN: XS1882674085)
GBP42,300,000 Class D Asset Backed Floating Rate Notes due
December 2026
(Reg S ISIN:XS1882674325 / Rule 144A ISIN: XS1882674754)
GBP23,700,000 Class E Asset Backed Floating Rate Notes due
December 2026
(Reg S ISIN:XS1882675058 / Rule 144A ISIN: XS1882675306)
GBP19,800,000 Class F Asset Backed Floating Rate Notes due
December 2026
(Reg S ISIN:XS1882675561 / Rule 144A ISIN: XS1882675991)
(the " Notes ")
On 8 July 2021, (i) the Series 2021-2 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 2018-2 Investor Interest standing to the credit of the
Series 2018-2 Principal Funding Ledger, the Scheduled Redemption
Date in respect of the Class F Loan Note and the Class F Notes
shall fall on 8 July 2021.
Part of the proceeds of the Series 2021-2 Notes in an amount
equal to GBP293,100,000 (which is also equal to the Series 2018-2
Series Investor Interest) will be paid to the Receivables Trustee
and credited to the Series 2018-2 Principal Funding Ledger. Upon
the Receivables Trustee's receipt of those proceeds, Series 2018-2
will be fully pre-funded ahead of its Scheduled Redemption Date
falling on the Interest Payment Date falling in December 2021 and,
as such, the Class F Loan Note and the Class F Notes shall be
redeemed in full on 8 July 2021.
As a result of such pre-funding and following a Rating
Confirmation, the Required Liquidity Reserve Amount for Series
2018-2 has been reduced to zero and the Series 2018-2 Originator
VFN Subordination has been reduced to zero. At closing of the issue
of the Series 2021-2 Notes: (i) GBP1,500,000, shall be credited to
the Series 2018-2 Accumulation Reserve Ledger to fund monthly
waterfall payments for Class A2, Class B, Class C, Class D and
Class E; and (ii) GBP700,000, shall be credited to the Series
2018-2 Class A1 Accumulation Reserve Ledger to fund monthly
waterfall payments for Class A1, in each case, for each Transfer
Date prior to the Scheduled Redemption Date for Series 2018-2.
Capitalised terms used, but not defined, in this Notice have the
meanings given to them in the prospectus dated 1 November 2018.
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: directors-uk@intertrustgroup.com
Attention: The Directors
This Notice is given by
NEWDAY FUNDING 2018-2 PLC
as Issuer
Dated 8 July 2021
LEI: 21380079MGGRQW6Z7Z61
END
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END
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