Surrender and cancellation of bonds - Replacement


The issuer advises that the following replaces the Haven Funding 'Surrender and cancellation of bonds' announcement released at 11:47 BST today.

The correct ISIN and Ticker have now been included for linking purposes.

All other details remain unchanged.

The full corrected version is shown below.

Haven Funding Plc – Surrender and cancellation of £3,474,340 of the £259,783,095 8.125% Secured Bonds due 2037

Haven Funding Plc (Haven) is a special purpose company which issued £259,783,095 8.125 per cent. Secured Bonds due 2037 (the Bonds) originally constituted and secured by a trust deed dated 11 March 1997 (as amended and supplemented) (the Trust Deed). The Proceeds of the issue of the Bonds were loaned to various housing associations (the Borrowers) pursuant to various loan agreements including Metropolitan Housing Trust Limited (MHT) under a loan agreement dated 24 June 1997 (as amended by supplemental loan agreements dated 11 March 1999 and 1 June 2000) (the Loan Agreement). Such loans have been secured on properties of the Borrowers.

Pursuant to the terms of the Trust Deed and the Loan Agreement, a Borrower may purchase Bonds and surrender them to Haven to be cancelled. Following such surrender an equivalent amount of the Loan Agreement shall be deemed to be prepaid.

MHT has purchased £3,474,340 in aggregate principal amount of the Bonds in the market and has surrendered such Bonds to Haven (the Surrendered Bonds). The Surrendered Bonds have been cancelled in accordance with the requirement of the Trust Deed on 29 March 2016.

Following the cancellation of the Surrendered Bonds there are now £256,308,755 in aggregate principal amount of the Bonds outstanding.

Short Name: Haven Funding PLC
Category Code: MSC
Sequence Number: 518309
Time of Receipt (offset from UTC): 20160330T132926+0100


Haven Funding PLC


Haven Funding PLC