top of page

EuroMASTR PLC - Disclosure Event & Consent Solicitation Information

EuroMASTR PLC Notice to Noteholders Re Relaunch Solicitation

03 JULY 2023


Full announcement including disclaimers and offer restrictions available via Euronext


£95,250,000 Class A2 Mortgage Backed Floating Rate Notes due 2040 (Common Code: 030576306; ISIN Code: XS0305763061) (the "Class A2 Notes")

£12,650,000 Class B Mortgage Backed Floating Rate Notes due 2040 (Common Code: 030576403; ISIN Code: XS0305764036) (the "Class B Notes")

£9,800,000 Class C Mortgage Backed Floating Rate Notes due 2040 (Common Code: 030576608; ISIN Code: XS0305766080) (the "Class C Notes")

£15,600,000 Class D Mortgage Backed Floating Rate Notes due 2040 (Common Code: 030576632; ISIN Code: XS0305766320) (the "Class D Notes")

£3,900,000 Class E Mortgage Backed Floating Rate Notes due 2040 (Common Code: 030576667; ISIN Code: XS0305766676) (the "Class E Notes")


...


"Background


1. Since 31 December 2021, all LIBOR settings ceased to be published, except for the 1, 3 and 6 months settings for which a sterling regulatory synthetic LIBOR rate ("Regulatory Synthetic LIBOR") was being published (but which was unrepresentative and was being published solely for use in legacy transactions for a time-limited period).


2. On 9 February 2022 the UK Financial Conduct Authority ("FCA") confirmed that Regulatory Synthetic LIBOR was a temporary bridge to risk free rates, and its availability was not guaranteed beyond end-2022. For further information, see https://www.fca.org.uk/news/press-releases/finalising-libor-transition-achievements-sterling-markets.


3. On 16 August 2022, the FCA confirmed that it proposed to cease the requirement to continue the publication of the 1- and 6-month Regulatory Synthetic LIBOR at the end of March 2023. For further information, see https://www.fca.org.uk/news/statements/fca-encourages-market-participants-transition-libor-linked-bonds.


4. In November 2022, the FCA announced that it intended to compel the publication of 3-month synthetic sterling LIBOR only until end-March 2024, after which it would cease permanently. The FCA advises market participants who still have contracts referencing 3-month sterling LIBOR to ensure they are prepared for publication of the Regulatory Synthetic LIBOR alternative to cease at that time."


...

1 view0 comments

Comentarios


bottom of page