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Company Announcements

RIS Notification

RNS Number : 1183F
Titan Europe 2007-2 Limited
11 June 2012
 

RIS NOTIFICATION

 

To:      The Irish Stock Exchange

            28 Anglesea Street

            Dublin 2

            Ireland

 

Date:    11 June 2012

 

TITAN EUROPE 2007-2 LIMITED
(the "Issuer")

 

Class A1 Commercial Mortgage Backed Floating Rate Notes due 2017
Class X Commercial Mortgage Backed Floating Rate Notes due 2017

Class A2 Commercial Mortgage Backed Floating Rate Notes due 2017

Class B Commercial Mortgage Backed Floating Rate Notes due 2017

Class C Commercial Mortgage Backed Floating Rate Notes due 2017

Class D Commercial Mortgage Backed Floating Rate Notes due 2017

Class E Commercial Mortgage Backed Floating Rate Notes due 2017

Class F Commercial Mortgage Backed Floating Rate Notes due 2017

Class G Commercial Mortgage Backed Floating Rate Notes due 2017

Class V Commercial Mortgage Backed Floating Rate Notes due 2017

being together, the "Notes"

The Notes are admitted to trading on the regulated market of The Irish Stock Exchange Limited.

Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation together with Implementing Directive  2003/124/EC as implemented by the relevant member state requires disclosure of inside information relating to the Issuer.

Capitalised terms used in this notice but not defined herein shall have the meanings given to such terms in the Offering Circular in respect of the Notes dated 18 June 2007.

The Special Servicer Agent for and on behalf of the Special Servicer has informed the Issuer of the following:

Caprice Loan - Sale of Borrower and partial repayment of loan

Reference is made to the notice issued on 26 March 2012 whereby the Borrowers under the Loan referred to as the "Caprice Loan" were granted a second temporary standstill agreement for the period from (and including) the 18 March January 2012 to (but excluding) 18 June 2012.

Following discussions between the Special Servicer Agent and the Borrowers regarding the consensual sale of one of the Properties, the Special Servicer Agent has consented to a sale of the shares in one of the Borrowers (the "Sale") for a sale price of €7,500,000 including transaction costs (the "Sale Price"). In granting consent to the Sale, the Special Servicer Agent, acting in accordance with the Servicing Standard, determined that the Sale Price reflected a value that was higher than the current market valuation of the Property.

On 7th June 2012 the Sale was completed following receipt of an amount equal to the Sale Price less the transactions costs by the Special Servicer Agent as a partial repayment of amounts outstanding under the Loan.

In consideration for the Special Servicer Agent granting consent to the Sale, the remaining Borrowers have undertaken to continue discussions in good faith with the Special Servicer Agent following the Transaction with respect to the repayment of remainder of the Loan, and/or marketing of the Properties.

Contact name and e-mail address for queries:

Tracey Folkes (tracey.folkes@capitaassetservices.co.uk)

 

Name and signature of agent of the Issuer responsible for making notification:

 

 

 

____________________                                                       

Alan Geraghty

 

Date of notification: 11 June 2012

 

 

 

 

 

 

 

 

This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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