Tower Bridge Funding 2024-3 notes to be redeemed on Sept. 21
Tower Bridge Funding 2024-3 PLC has announced that all its outstanding notes in six classes will be fully redeemed on September 21, 2026, according to a press release. Vida Bank Limited has exercised its option to acquire mortgage pool loans from the issuer on the September interest payment date, which triggers the mandatory redemption of all notes.
The redemption includes all notes, from Class A to Class E and Class X, all due December 2066. Noteholders will receive the principal amount plus accrued interest up to but not including the redemption date. The issuer has confirmed it has sufficient funds from property sales and transaction accounts to complete the redemption. This follows the terms in Note Condition 5(d)(i) and Note Condition 13, and the transaction was established with a master definitions schedule dated September 19, 2024.
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