LONDON - Tower Bridge Funding 2021-2 PLC has issued a notice to its noteholders informing them of significant developments concerning Belmont Green Finance Limited, the seller and mortgage administrator involved in the residential mortgage-backed securitisation transaction with the Issuer and the Notes. Belmont Green Finance Limited, now known as Vida Bank Limited, has been granted authorization to accept deposits, a milestone often recognized as obtaining a UK banking license.
The authorization was officially given by the Prudential (LON:PRU) Regulation Authority and Financial Conduct Authority on November 19, 2024. Following this development, the company announced a change of its name to Vida Bank Limited, which took effect on November 25, 2024. Additionally, Vida Bank Limited has updated its corporate website address to www.vidabank.co.uk.
This announcement pertains to various classes of notes due in November 2063, including Class A, B, C, D, X, Z1, and Z2, all incorporated under the Master Definitions Schedule dated July 9, 2021. The Issuer has communicated this information in accordance with Note Condition 13, which details the protocol for notifying noteholders.
The details of these corporate actions are essential for noteholders as they reflect changes in the administrative aspects of the securitisation transaction. The notice does not imply any immediate impact on the terms of the notes or the noteholders' positions but serves to keep them informed of the developments within the involved entities.
The information disclosed in this article is based on a press release statement from Tower Bridge Funding 2021-2 PLC.
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