NewDay Funding 2017-1 PLC Redemption of Class F Notes (5797P)

TIDM75FO

RNS Number : 5797P

NewDay Funding 2017-1 PLC

10 June 2020

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014.

SEE "IMPORTANT INFORMATION" BELOW.

NEWDAY FUNDING 2017-1 PLC

1 Bartholomew Lane

London EC2N 2AX

(the "Issuer")

RNS ANNOUNCEMENT IN RESPECT OF REDEMPTION OF SERIES

For the attention of the holders of the following notes of the Issuer

GBP125,000,000 Class A Asset Backed Floating Rate Notes

(ISIN: XS1634772468, Common Code: 163477246)

GBP19,250,000 Class B Asset Backed Floating Rate Notes

(ISIN: XS1634772971, Common Code: 163477297)

GBP28,250,000 Class C Asset Backed Floating Rate Notes

(ISIN: XS1634774084, Common Code: 163477408)

GBP35,500,000 Class D Asset Backed Floating Rate Notes

(ISIN: XS1634774167, Common Code: 163477416)

GBP19,750,000 Class E Asset Backed Floating Rate Notes

(ISIN: XS1634803792, Common Code: 163480379)

GBP16,500,000 Class F Asset Backed Floating Rate Notes

(ISIN: XS1634834912, Common Code: 163483491)

(together, the "Notes")

10 June 2020

Series 2017-1 Scheduled Redemption Date

It is announced that NewDay Cards Ltd ("NewDay") does not intend to exercise its option to extend the Series 2017-1 Scheduled Redemption Date. This decision reflects current funding market conditions and the strength of the liquidity position in the NewDay Funding master trust as well as the NewDay group as a whole.

As a result of the above it is expected that:

-- the Series 2017-1 Scheduled Redemption Date will remain as 15 July 2020 and the Notes will be redeemed on that date, save that, subject to receiving the required trustee consents and the other classes of Notes being fully cash-collateralised, the Class F Notes (which are all held by the Transferor) are expected to be redeemed on or about 12 June 2020; and

-- the redemption of the Notes will come from drawings under the existing committed senior variable funding loan notes issued by NewDay Funding Loan Note Issuer Ltd and drawings under the originator variable funding loan note issued by NewDay Funding Loan Note Issuer Ltd (the latter drawings being funded by the NewDay group's corporate cash).

Words and expressions used in this announcement shall have the meanings assigned to them in the Series 2017-1 Supplement to the Receivables Trust Deed and Servicing Agreement dated 5 July 2017 between, inter alios, NewDay Cards Ltd, NewDay Funding Receivables Trustee Ltd and NewDay Funding Loan Note Issuer Ltd.

Contact details:

   Issuer:             1 Bartholomew Lane

London EC2N 2AX

   Email:             directors-uk@intertrustgroup.com 
   Attention:       The Directors

This announcement is made by:

NEWDAY FUNDING 2017-1 PLC

   LEI:                213800U7VHJCEVWBP966

IMPORTANT INFORMATION

This announcement is released by NewDay Funding 2017-1 plc and contains information that qualified or may have qualified as inside information for the purposes of Article 7(1) of the Market Abuse Regulation (EU) 596/2014 (MAR), being information relating to the redemption of the Notes. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Helena Whitaker.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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June 10, 2020 10:55 ET (14:55 GMT)

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