Great Hall gives results of solicitation involving 10 series of notes

By William Gullotti

Buffalo, N.Y., June 1 – Great Hall Mortgages No. 1 plc received 100% approval from voting noteholders in its consent solicitation to approve extraordinary resolutions involving 10 series of notes, according to a notice on Thursday.

As previously reported, 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.

Great Hall reported receiving votes from:

• £276.33 million of its £278.8 million class Aa notes (ISIN: XS0308354504);

• €27.3 million of its €30 million class Ab notes (ISIN: XS0308354843));

• $588.79 million of its $600 million class Ac notes (ISIN: XS0308462141, US39052PAA75);

• £61.64 million of its £75.2 million class Ba notes (ISIN: XS0308356970);

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

• €34.03 million of its €42.1 million class Cb notes (ISIN: XS0308355733);

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

• €22 million of its €28 million class Db notes (ISIN: XS0308356111);

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

• €8 million of its €10 million class Eb notes (ISIN: XS0308356467).

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, effective on the interest payment date falling on Sept. 18.

In accordance with the initial solicitation and for avoidance of doubt, Libor will remain the applicable reference rate up to, but excluding, the effective date.

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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