Company name Faxtor ABS 2005-1 BV
Headline Notice To Noteholders - Result of Auction


RNS Number : 8312F
Faxtor ABS 2005-1 B.V.
17 July 2019
 

THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF NOTEHOLDERS. IF NOTEHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, THEY SHOULD CONSULT THEIR OWN INDEPENDENT PROFESSIONAL ADVISERS AUTHORISED UNDER THE FINANCIAL SERVICES AND MARKETS ACT 2000 IMMEDIATELY.

 

If applicable, all depositories, custodians and other intermediaries receiving this notice are requested to transmit this notice to the beneficial holders of the Notes in a timely manner.

 

To the Holders and beneficial owners of the Notes listed

 

€12,000,000 Class B Floating Rate Notes due 2094 ISIN XS0235147617

€12,400,000 Class C Subordinated Notes due 2094 ISIN XS0235158143

(together the "Notes")

 

issued by

 

FAXTOR ABS 2005-1 B.V. (in receivership) (the "Issuer")

 

16 July 2019

FOR IMMEDIATE RELEASE

Company announcement
 

We refer to (i) a trust deed dated 7 December 2005 between, inter alia, the Issuer and Deutsche Trustee Company Limited (the "Trustee") in respect of the Notes (the "Trust Deed"). Pursuant to the terms of the Trust Deed, David Philip Soden and Philip Stephen Bowers (the "Receivers") of Deloitte LLP have been appointed as receivers of the Issuer.

Capitalised terms used and not otherwise defined herein have the meanings given to them in the Trust Deed.

Notice of auction completion

As previously advised, Noteholders are hereby informed that the Collateral Manager has conducted an auction for the sale of the remaining Portfolio Collateral which concluded on 16 July 2019 (the "Auction").

The Receivers are able to confirm that all of the remaining Portfolio Collateral was bid for and sold in the Auction. Settlement is scheduled to take place by 18 July 2019. Following settlement, the Receivers anticipate receiving gross proceeds of 14,653,843 from the Auction.

Further developments

The Receivers will advise Noteholders of any further developments and/or distributions arising out of such sale in due course but, if you have any questions in the interim, please contact the Receivers by sending an email to dsoden@deloitte.co.uk, rwoolsey@deloitte.co.uk and gematthews@deloitte.co.uk.

Important information

Please note that nothing in this document is intended to amount to an invitation or inducement to engage in investment activity.  Nothing in this document amounts to the giving of advice.  If you are in any doubt as to the action you should take, you should consult a professional adviser. 

This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities described herein.

 

 

 

The Receivers act as agents of the Issuer at all times and without personal liability.

This notice is given by:

FAXTOR ABS 2005-1 B.V. (in Receivership)

 

Acting by the Receivers, as agents of the Issuer and without personal liability

 

ISIN numbers appearing herein have been included solely for convenience. The Receivers assume no responsibility for the accuracy or use of such numbers.

 

This announcement has been issued through the Companies Announcement Service of Euronext Dublin.

 

 


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