Company name Indus (Eclipse 07-1)
Headline Notice to Noteholders


RNS Number : 3902Q
Indus (Eclipse 2007-1) PLC
18 October 2011
 

NOTICE TO THE HOLDERS OF

 

£729,000,000 Class A Commercial Mortgage Backed Floating Rate Notes due 2020

(the "Class A Notes")

 

£100,000 Class X Commercial Mortgage Backed Floating Rate Notes due 2020

(the "Class X Notes")

 

£48,000,000 Class B Commercial Mortgage Backed Floating Rate Notes due 2020

(the "Class B Notes")

 

£54,000,000 Class C Commercial Mortgage Backed Floating Rate Notes due 2020

(the "Class C Notes")

 

£53,500,000 Class D Commercial Mortgage Backed Floating Rate Notes due 2020

(the "Class D Notes")

 

£9,930,000 Class E Commercial Mortgage Backed Floating Rate Notes due 2020

(the "Class E Notes")

issued by

INDUS (ECLIPSE 2007-1) PLC(the "Issuer")

 

 

Words and expressions used in this notice and not defined herein shall have the meaning given to them in the prospectus dated 4 April 2007 in respect of the issuance of £894,530,000 commercial mortgage backed floating rate notes due 2020 by the Issuer.

 

Pursuant to paragraph 13.7 of Schedule 1 to the Servicing Agreement, the Special Servicer has made the following information (shown in quotation marks below) available to the Issuer.  The Issuer notes that it has not been involved in the preparation of this information and in accordance with normal practice the Issuer expresses no opinion in respect of the information contained in this Notice.  Furthermore, this Notice is issued without prejudice to any and all of the Issuer's rights under the Transaction Documents, all of which are expressly reserved.

 

This Notice is solely directed to the holders of the Notes and should not be relied upon or used by any other person.

 

"The Adelphi Loans are secured by the Adelphi Property.

 

In a report issued by the Special Servicer to the Noteholders dated 20 September 2011 (the "Servicer Quarterly Report"), the Special Servicer reported that a consensual sales process was currently in place. In the Issuer Update Notice of 5 October 2011, the Special Servicer stated that owing to certain events related to the proposed sale, prospects were uncertain in relation to full repayment of the loan at maturity.

 

The Adelphi Loans did not repay at their final maturity date, 17 October 2011. A Non-payment Event of Default will arise unless the non-payment is remedied within three Business Days of the due date. The Special Servicer is currently continuing active discussions with the Adelphi Borrower and the junior lender in respect of maximising recoveries and will provide the Issuer with a further information update as soon as such information is available."

 

 

 

 

By:

Indus (Eclipse 2007-1) plc

35 Great St Helen's

London

EC3A 6AP

                       

cc:                                                

BNY Mellon Corporate Trustee Services Limited

One Canada Square

London

E14 5AL

(in its capacity as Trustee)

Date: 18 October 2011

 

 

 

 

 

 

 

 

 

This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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