Great Hall updates post-meetings for consent solicitations

Chicago, Jan. 17 – Great Hall Mortgages No. 1 plc provided an update after meetings were held on Tuesday to approve extraordinary resolutions relating to a portfolio of notes, according to a notice.

The company is seeking to modify the terms and conditions to change the basis of interest to SOFR from Libor and add a spread adjustment to any dollar-denominated notes as well as seek consent for any consequential or related amendments to certain terms of the series currency and hedge agreement to effect the transition.

The terms of the class Ac notes will be adjusted to SOFR plus 39.161 basis points with a spread adjustment of 26.161 bps.

In terms of the Tuesday meetings, quorums were reached and the resolutions were passed for the:

• £278.8 million class Aa notes (ISIN: XS0308354504);

• €30 million class Ab notes (ISIN: XS0308354843));

• £7.5 million class Ea notes (ISIN: XS0308357861); and

• €10 million class Eb notes (ISIN: XS0308356467).

For the other six series, the meetings were not quorate.

Separate adjourned meetings will be held on Feb. 1 starting at 5:30 a.m. ET. The note classes that will be subject to the adjourned meetings are the:

• $600 million class Ac notes (ISIN: XS0308462141, US39052PAA75);

• £75.2 million class Ba notes (ISIN: XS0308356970);

• £9 million class Ca notes (ISIN: XS0308357358));

• €42.1 million class Cb notes (ISIN: XS0308355733);

• £2 million class Da notes (ISIN: XS0308357788); and

• €28 million class Db notes (ISIN: XS0308356111).

Instructions for the adjourned meetings are due by 6:45 a.m. ET on Jan. 30.

Although the changes effect only one series of notes, the noteholders of all the series must consent to the change. The extraordinary resolutions require a 75% majority in favor to pass.

The trustee and principal paying agent is Bank of New York Mellon, London Branch (+44 20 7964 2509, BNYM.Structured.Finance.Team.2@bnymellon.com).

The tabulation agent is i2 Capital Markets (+44 20 3633 1212, info@i2capmark.com, https://i2capmark.com/event-details/21/Holder/great-hall-mortgages-no.1-plc-series-2007-2).

Great Hall Mortgages No. 1 plc is a London-based mortgage company.

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