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Citizen Irsh Auto 17 (IRSH)

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Tuesday 30 June, 2020

Citizen Irsh Auto 17

Clean up call Option

RNS Number : 6095R
Citizen Irish Auto Receivables 17
30 June 2020
 

COMPANY ANNOUNCEMENT

 

 

For Immediate Release

30 June 2020

 

 

Citizen Irish Auto Receivables Trust 2017 DAC

(the "Issuer")

 

€132,900,000 Class A Notes due June 2024

(ISIN: XS1620145794) 

 

8,700,000 Class B Notes due June 2024

(ISIN: XS1620151768)

 

6,300,000 Class C Notes due June 2024

 (ISIN: XS1620151925)

 

2,400,000 Class D Notes due June 2024

 (ISIN: XS1620152147) 

 

  7,900,000 Class E Notes due June 2024

(ISIN: XS1620152493)

 

(together the "Notes")

 

Notice to Noteholders

 

This notice is released by the Issuer and may contain inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) ("MAR"), encompassing information relating to the Notes described above.  For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this notice is made by the Directors of the Issuer.

We refer to the trust deed dated 22 June 2017 constituting the Notes made between the Issuer and U.S. Bank Trustees Limited as trustee (including the terms and conditions of the Notes set out in Schedule 4 (Term and Conditions of the Notes) thereto (the "Conditions")) (the "Trust Deed").  Capitalised terms used but not otherwise defined in this notice shall have the meanings ascribed to them in the Trust Deed whether defined therein or by reference to another document.

The Issuer hereby notifies each Noteholder that the Seller has exercised its right pursuant to and in accordance with Condition 8.3 (EarlyRedemption) and Clause 8.1 (Clean-Up Call Option) of the Receivables Sale Agreement to repurchase all of the outstanding Purchased Receivables from the Issuer on the Interest Payment Date falling in August 2020 for an amount equal to the Repurchase Price.

Subject to completion of the repurchase of the outstanding Purchased Receivables by the Seller as described in the paragraph above, the Issuer hereby notifies each Noteholder that the Issuer will redeem the Notes in full and pay all accrued but unpaid amounts of interest thereon on the Interest Payment Date falling in August 2020.

Noteholders with queries concerning the content of this notice should contact the persons set out below:

Contact:  

 

The Directors, Citizen Irish Auto Receivables Trust 2017 DAC

Address:  

 

Fourth Floor, 3 George's Dock, IFSC, Dublin 1, Ireland

Telephone

 

+353 1 612 5555

The Trustee assumes no responsibility or liability for the contents of this notice and makes no recommendations as to any action to be taken with respect to this notice.

No person has been authorised to give information, or to make any representation in connection herewith, other than as contained herein and such information or representation must not be relied upon as having been authorised by or on behalf of the Issuer.   The delivery of this notice at any time does not imply that the information in it is correct as at any time subsequent to its date.

This notice is given by:

Citizen Irish Auto Receivables Trust 2017 DAC

Fourth Floor

3 George's Dock

IFSC

Dublin 1

Ireland

Email: [email protected]

 

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


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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