LONDON - Lannraig Master Issuer PLC, a company incorporated in England and Wales, has announced amendments to its Residential Buy-to-let Mortgage Backed Note Programme. The changes pertain to the Programme Master Definitions Schedule and the Issuer Master Definitions Schedule following the alteration of the financial year-end to March 31.
These modifications are encapsulated in a master deed of amendment dated January 17, 2025. The Programme involves two series of notes: the £600 million Series 2023-1 Class 1A Notes due 2069 and the £250 million Series 2018-1 Class 2A Notes also due 2069. This Programme is ultimately backed by a trust of residential mortgages.
The Master Deed of Amendment is now available for debtholders to review at the specified offices of the Paying Agents and the Issuer. The principal Paying Agent for the Programme is Citibank, N.A., London Branch.
The announcement is significant for investors and debtholders of the notes, as it could affect the terms and conditions under which the notes were issued. However, specific details regarding the nature of the amendments were not disclosed in the press release.
This move by Lannraig Master Issuer PLC aligns with common practices in the financial industry, where issuers periodically update programme terms to reflect changes in corporate structure or financial reporting practices. It is a routine aspect of managing long-term financial instruments such as mortgage-backed securities.
Investors in similar securities or those interested in the residential mortgage-backed securities market will take note of these amendments, as they may impact the valuation or performance of these particular notes.
The information provided is based on a press release statement from Lannraig Master Issuer PLC.
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