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NOTICE OF NON-MATERIAL AMENDMENT OF SWAP AGREEMENT

16th Apr 2025 15:32

RNS Number : 3404F
Tower Bridge Funding 2024-3 PLC
16 April 2025
 

NOTICE OF NON-MATERIAL AMENDMENT OF SWAP AGREEMENT

 

Tower Bridge Funding 2024-3 PLC

(Registered in England and Wales under number 15811524)

(the "Issuer")

 

£261,000,000 Class A Mortgage Backed Floating Rate Notes due December 2066 (Regulation S Notes ISIN: XS2885223672 and Rule 144A Notes ISIN: XS2885223839)

 

£19,500,000 Class B Mortgage Backed Floating Rate Notes due December 2066 (Regulation S Notes ISIN: XS2885223912 and Rule 144A Notes ISIN: XS2885224050)

 

£9,750,000 Class C Mortgage Backed Floating Rate Notes due December 2066 (Regulation S Notes ISIN: XS2885224134 and Rule 144A Notes ISIN: XS2885224217)

 

£8,250,000 Class D Mortgage Backed Floating Rate Notes due December 2066 (Regulation S Notes ISIN: XS2885224308 and Rule 144A Notes ISIN: XS2885224563)

 

£1,500,000 Class E Mortgage Backed Floating Rate Notes due December 2066 (Regulation S Notes ISIN: XS2890155661 and Rule 144A Notes ISIN: XS2890155745)

 

£6,000,000 Class X Mortgage Backed Floating Rate Notes due December 2066 (Regulation S Notes ISIN: XS2885224647 and Rule 144A Notes ISIN: XS2885224720)

 

£4,500,000 Class Z Notes due December 2066 (Regulation S Notes)

 

(the "Notes")

 

The Master Definitions Schedule dated 19 September 2024 and signed for the purpose of identification by Cadwalader, Wickersham & Taft LLP and Allen Overy Shearman Sterling LLP in connection with the Notes (as the same may have been amended, varied or supplemented from time to time, the "Master Definitions Schedule") is expressly and specifically incorporated into this notice and, accordingly, the expressions defined in the Master Definitions Schedule shall, except where the context otherwise requires and save where otherwise defined in this notice, have the same meanings in this notice and this notice shall be construed in accordance with the interpretation provisions set out in Clause 2 (Interpretation) of the Master Definitions Schedule.

 

NOTICE IS HEREBY GIVEN by the Issuer to each Noteholder in accordance with Note Condition 13 (Notice to Noteholders) and to each Certificateholder for the purposes of Certificate Condition 11 (Notice to Certificateholders) that:

 

A new edition (being Edition 2) of the Swap Agreement has been entered into by the Issuer, the Swap Counterparty and the Security Trustee on 16 April 2025 whereby the Swap Agreement was amended to remove certain circumstances in which the Swap Counterparty would otherwise not have been obliged to deliver Eligible Credit Support (as defined in the Swap Agreement) to the Issuer under the Credit Support Annex that forms part of the Swap Agreement (such Eligible Credit Support provides GBP collateral to the Issuer in respect of the Swap Counterparty's liabilities under the Swap Agreement) and, accordingly, the amendents improve the position of the Issuer (and, in turn, the Noteholders and the Certificateholders) as they result in the Issuer potentially having additional collateral in respect of such liabilities compared to the current position and those amendments do not involve any adverse effect on the position of the Issuer (and, in turn, the Noteholders and the Certificateholders).

 

The Issuer has arranged for that Edition 2 of the Swap Agreement to be uploaded to the UK Reports Repository and the EU Reports Repository and a physical copy may be inspected during usual business hours at the registered office of the Issuer.

 

By: Tower Bridge Funding 2024-3 PLC

10th Floor, 5 Churchill Place

London E14 5HU

as Issuer

Dated 16 April 2025

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