22 Mar 2016 09:07
T.H.F.C. (Social Housing Finance) Limited
8.75% Debenture Stock 2016/21, ISIN GB0008765918
T.H.F.C. (Social Housing Finance) Limited (SHF) acquires own stock for cancellation
SHF has cancelled £3.5 million nominal amount of its 8.75% Debenture Stock 2016/21. This follows delivery of the Stock to SHF by one of its borrowers as effective prepayment of the loan.
SHF is approached from time to time by borrowers wishing to undertake transactions of this nature and all necessary approvals are in place for prepayments to occur via this mechanism. SHF may be prepared to enter into similar transactions with other borrowers.
The Outstanding Principal Amount of Stock remaining is £82.8million.
In accordance with the conditions of the Stock set out in the Trust Deed dated 18th December 1996:
“The Issuer:-
may on 18th December, 2016, by giving not less than six months prior written notice to the Trustee and the Stockholders of its intention to do so, redeem such amount of the Original Stock (not exceeding the amount which is the lesser of 25% of the Outstanding Principal Amount of the Original Stock and the then Outstanding Principal Amount of all Funded Loans made to Borrowers registered in Scotland on the date on which such notice is given) as the Issuer may determine and specify in such notice (which notice shall be irrevocable and oblige the Issuer to redeem such amount of Original Stock on such date)
The current Outstanding Principal Amount of all Funded Loans made to Borrowers registered in Scotland is £5million.
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