Housing Assn Funding Notice to Noteholders

 
TIDM32EK TIDMBK48 
 
THIS NOTICE IS A REPLACEMENT OF THE NOTICE DATED 7 FEBRUARY 2022 WITH THE 
                       HEADLINE "Notice to Noteholders". 
 
            THE PREPAYMENT AMOUNTS HAVE BEEN UPDATED FOR ACCURACY. 
 
         THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION 
           OF NOTEHOLDERS. IF NOTEHOLDERS ARE IN ANY DOUBT AS TO THE 
              ACTION THEY SHOULD TAKE, THEY SHOULD SEEK THEIR OWN 
        FINANCIAL, LEGAL OR OTHER PROFESSIONAL ADVICE, INCLUDING AS TO 
           ANY TAX CONSEQUENCES, IMMEDIATELY FROM THEIR STOCKBROKER, 
          SOLICITOR, ACCOUNTANT OR OTHER INDEPENDENT FINANCIAL, LEGAL 
                         OR OTHER PROFESSIONAL ADVISER 
 
 If you have recently sold or otherwise transferred your entire holding(s) of 
                                   the Notes 
    referred to below, you should immediately forward this document to the 
                                 purchaser or 
   transferee or to the broker, bank or other agent through whom the sale or 
                                 transfer was 
           effected for transmission to the purchaser or transferee. 
 
                             NOTICE TO NOTEHOLDERS 
 
To the holders of the £192,270,000 8.25 per cent. Secured Loan-Backed Notes due 
                                   June 2027 
                              ISIN: XS0073407537 
                                 (the "Notes") 
                   issued by Housing Association Funding PLC 
                                (the "Issuer") 
 
Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 
April 2014 (Market Abuse Regulation) requires disclosure by or on behalf of the 
Issuer of any inside information concerning the Issuer. 
 
Capitalised terms used but not otherwise defined herein shall have the meanings 
ascribed to them in the master schedule of definitions, interpretation and 
construction clauses dated 23 January 1997, as amended and restated on 30 
January 1998, as amended and restated on 23 December 1999, as amended and 
restated on 29 June 2005, as amended and restated on 7 December 2009, as 
amended and restated on 11 February 2010 and as further amended and restated on 
31 January 2017. 
 
Please disregard the notice dated 7 February 2022 as the amounts of the 
prepayment were not correctly reflected. Please regard this notice as the 
accurate notice on all matters contained herein. 
 
The Issuer also wishes to inform Noteholders of the further information 
regarding the future amortisation of the Notes within this notice. 
 
Partial Redemption occurring on the December 2021 IPD 
 
We refer to the notice of the Issuer dated 6 December 2021 in which the Issuer 
informed Noteholders that it received funds from A2 Dominion South Limited 
(formerly known as Airways Housing Society Limited) ("A2 Dominion South Limited 
") in relation to the prepayment of its loan. 
 
Pursuant to the Supplemental Trust Deed, the amount of the prepayment was, as 
is required, applied to redeem the Notes and pay Noteholders on the Interest 
Payment Date (as defined in the Trust Deed) falling in December 2021 (the " 
December 2021 IPD") in accordance with the terms of the Transaction Documents 
as follows (the "December 2021 Redemption"): 
 
  * £211,302.59 was applied as standard amortisation; 
  *  £131,911.41 was applied as interest; 
  *  £2,986,549.79 was applied to redeem the Notes; 
  *  £709,417.35 was applied in payment of the Prepayment Premium; and 
  *  £46,544.32 was or will be applied in repayment of outstanding fees, costs 
    and expenses incurred by the transaction parties. 
 
As a result of the corrected prepayment amounts in relation to the December 
2021 Redemption as set out above, the following amounts will be paid to 
Noteholders on the next Interest Payment Date: 
 
  *  £44,601.11 additional interest payment; and 
  * £152,138.35 to correct the Premium Payment. 
 
The Issuer wishes to inform Noteholders following the December 2021 Redemption, 
that the column headed "Principal Amount to be redeemed per £100" and the 
column headed "Principal Amount Outstanding Per £100 After Redemption", in each 
case set out under the heading Mandatory Amortising Redemption at Condition 5 
(b) of the Notes shall be adjusted pursuant Condition 5(b) of the Notes. The 
figures in the column headed Principal Amount to be Redeemed per £100 shall be 
replaced with the figures in the column headed "New Principal to be Redeemed 
per £100" and the figures in the column headed and the column headed "Principal 
Amount Outstanding Per £100 After Redemption" shall be 
replaced with the figures in the column headed "New Principal Amount 
Outstanding per £100 after redemption", in each case, as set out below: 
 
Interest Payment           Previous                   New Principal to           Previous Principal         New Principal 
Date                       Principal to               be redeemed per            Amount Outstanding         Amount 
                           be redeemed                £100                       per £100 after             Outstanding per 
                           per £100                                              redemption                 £100 after 
                                                                                                            redemption 
 
7 December 2021            1.89275194                 2.79116361                 26.75214647                15.94250164% 
 
7 June 2022                1.97082796                 1.17448250                 24.78131851                14.76801914% 
 
7 December 2022            2.05212462                 1.22292991                 22.72919389                13.54508923% 
 
7 June 2023                2.13677475                 1.27337577                 20.59241914                12.27171346% 
 
7 December 2023            2.22491672                 1.32590252                 18.36750242                10.94581094% 
 
7 June 2024                2.31669453                 1.38059600                 16.05080789                9.56521494% 
 
7 December 2024            2.41225818                 1.43754558                 13.63854972                8.12766936% 
 
7 June 2025                2.51176383                 1.49684434                 11.12678589                6.63082503% 
 
7 December 2025            2.61537409                 1.55858917                 8.51141180                 5.07223586% 
 
7 June 2026                2.72325827                 1.62288097                 5.78815354                 3.44935489% 
 
7 December 2026            2.83559267                 1.68982481                 2.95256087                 1.75953008% 
 
7 June 2027                2.95256087                 1.75953008                 0.00000000                 0.00000000% 
 
Queries may be addressed to the Issuer as follows: 
 
Housing Association Funding PLC: 
 
Address: Bastion House, 6th Floor, 140 London Wall, London, England, EC2Y 5DN 
 
Attention: The Directors 
 
Telephone: +44 203 994 7157 
 
Email: spvservices@apexfs.com 
 
HOUSING ASSOCIATION FUNDING PLC 
27 May 2022 
 
View PDF version here 
 
 
 
 
END
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