TIDM60FV
THIS ANNOUNCEMENT MAY CONTAIN INSIDE INFORMATION FOR THE
PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU)
596/2014
Income Contingent Student Loans 2 (2007-2009) PLC
(Registered Number: 11493196)
10th Floor, 5 Churchill Place
London, United Kingdom, E14 5HU
(the "Issuer")
Dated 22 December 2020
NOTICE OF A MASTER SERVICER MODIFICATION
to the holders of the following notes of the Issuer presently
outstanding
GBP545,916,307.67 Class A1 Asset-Backed Floating Rate Notes due
2058 (ISIN: XS1915118910), GBP677,576,900.00 Class A2 Asset-Backed
Fixed Rate Notes due 2058 (ISIN: XS1915119132), GBP184,304,000.00
Class B Notes due 2058 (ISIN: XS1915119215), GBP1,791,439,000.00
Class X Notes due 2058 and GBP168,382,873.51 Retention Note due
2058
(the "Noteholders" and the "Notes", respectively)
NOTICE IS HEREBY GIVEN by the Issuer to the Noteholders in
accordance with Condition 16 (Notices to Noteholders) that the
Issuer and the Master Servicer have amended the documents specified
in this notice with effect from 22 December 2020 (the "Effective
Date") in order to effect the Amendments (as defined below).
1. We refer to the note trust deed dated 11 December 2018 between the Issuer
and Citicorp Trustee Company Limited as note trustee (as amended,
supplemented and restated from time to time, the "Note Trust Deed"),
including the terms and conditions of the Notes set out at Schedule 6
thereto (the "Conditions"), pursuant to which the Notes were constituted
on the terms and subject to the conditions contained therein.
2. We refer to the notices given by the Issuer to the Noteholders on 22
October 2020 and again on 19 November which set out the intention of the
Issuer to amend the Amended Documents to reflect terminology and
processes following the implementation of the project to deliver
repayment system enhancements to allow more frequent data transfers
between HMRC and the Student Loans Company in relation to ICR Loans
repaid via PAYE.
3. The parties to each relevant document have, with effect from the
Effective Date, amended the Conditions, the Note Trust Deed, the Master
Servicing Agreement, the Loan Sale Agreement and the Master Definitions
and Construction Agreement (the "Amended Documents") to reflect
terminology and processes following the implementation of the project to
deliver repayment system enhancements to allow more frequent data
transfers between HMRC and the Student Loans Company in relation to ICR
Loans repaid via PAYE.
The Amended Documents can each be viewed at the following link
https://www.sf.citidirect.com, and the changes set out therein
being the "Amendments".
1. Copies of the Note Trust Deed, drafts of the Amended Documents and
related documents may be inspected in electronic or physical form during
usual business hours at the registered office of the Issuer or the
Principal Paying Agent. Capitalised terms used but not otherwise defined
herein shall have the meanings given to them in the documents specified
in this notice, as applicable.
2. Noteholders with queries concerning the content of this Notice are kindly
requested to contact the Master Servicer using the details set out below.
Contact Details:
Master Servicer: The Secretary of State for Education
Sanctuary Buildings
20 Great Smith Street
London
SW1P 3BT
Telephone: +44(0) 370 000 2288 Email:
Master.Servicer@education.gov.uk Attention: Sinead
O'Sullivan, Susan Acland-Hood, Ailsa Harris
This Notice is given by
Income Contingent Student Loans 2 (2007-2009) PLC
as Issuer
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 advisors
as you deem necessary.
This Notice is addressed only to 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.
In accordance with normal practice, none of the Issuer, the Note
Trustee, the Security Trustee, the Agents or their affiliates (or
their respective directors, employees, officers, consultants or
agents) expresses any view or opinion whatsoever as to the
Amendments, the Amended Documents (each as defined below) or the
information set out in this Notice; and none of the Note Trustee
nor the Security Trustee makes any representation or recommendation
whatsoever as to any action to be taken or not taken by Noteholders
in relation to the Amendments, the Amended Documents or this
Notice, or any document prepared in connection with any of them.
Accordingly, the Issuer, the Note Trustee and the Security Trustee
urge Noteholders who are in doubt as to the impact of the
implementation of the Amendments, the Amended Documents or this
Notice or any document prepared in connection with any of them
(including any tax or other consequences), to seek their own
independent financial, tax and legal advice. Each of the Issuer,
the Note Trustee and the Security Trustee has not made, nor will
they make, any assessment of the merits of the Amendments, the
Amended Documents or this Notice or of the impact of the
Amendments, the Amended Documents or this Notice on the interests
of the Noteholders either as a class or as individuals.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20201222005516/en/
CONTACT:
Income Contingent Student Loans 2 (2007-2009) PLC
SOURCE: Income Contingent Student Loans 2 (2007-2009) PLC
Copyright Business Wire 2020
(END) Dow Jones Newswires
December 22, 2020 11:07 ET (16:07 GMT)
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