Issuer |
First Flexible (No.7) PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ |
Closing Date |
25 January 2007 |
Originators |
Paragon Mortgages Limited, 51 Homer Road, Solihull, West Midlands, B91 3QJ
Mortgage Trust Limited, 51 Homer Road, Solihull, West Midlands, B91 3QJ
Mortgage Trust Services PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ |
Notes Issued |
Class A Notes |
Class B Notes |
Class C Notes |
Original Rating (S&P/Fitch) |
AAA/AAA |
AA/AA |
A/A |
Current Rating (S&P/Fitch) |
AAA/AAA |
B-/A |
B-/A |
Original Notes |
£260,500,000 |
£4,050,000 |
£4,050,000 |
Note Denominations |
£50,000 |
£50,000 |
£50,000 |
Initial Margins |
12bp |
18bp |
28bp |
Step Up Dates |
15 March 2012 |
15 March 2012 |
15 March 2012 |
Step Up Margins |
24bp |
36bp |
56bp |
Optional Redemption Dates |
15 March 2011 |
15 March 2011 |
15 March 2011 |
Principal Determination Dates |
Last business day of May, August, November, February |
Quarterly Interest Payment Dates |
15 June, 15 September, 15 December, 15 March |
Lead Manager |
Barclays Bank PLC, 5 The North Colonnade, London, E14 4BB |
Administrators |
Paragon Finance PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ
Mortgage Trust Services plc, 51 Homer Road, Solihull, West Midlands, B91 3QJ |
Trustee |
Citicorp Trustee Company Limited, Citigroup Centre, 6thFloor, Canada Square, Canary Wharf, London, E14 5LB |
Rating Agencies |
Standard & Poor’s, 20 Canada Square, Canary Wharf, London, E14 5LH
Fitch Ratings Limited, 30 North Colonnade, London, E14 5GN |
Principal Paying / Reference Agent/ |
Citibank, N.A. Citigroup Centre, 21stFloor, Canada Square, Canary Wharf, London, E14 5LB |
Legal Advisors to the Issuer/Administrators |
Clifford Chance LLP, 10 Upper Bank Street, Canary Wharf, London, E14 5JJ |
Legal Advisors to the Lead Manager and Trustee |
Herbert Smith LLP, Exchange House, Primrose Street, London, EC2A 2HS |
Auditors to the Issuer |
KPMG, One Snowhill, Snowhill Queensway, Birmingham, B4 6GH |
Underlying Assets |
First Charged Residential Owner Occupied Mortgages and First Charged Commercial Mortgages comprising wholly Commercial Properties or a mixture of Residential and Commercial Properties |
Subordinated Loan Providers |
Paragon Finance PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ
Mortgage Trust Services PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ |
Substitute Administrator |
Homeloan Management Limited, The Pavilions, Bridgwater Road, Bristol, BS13 8AE |
Basis Hedge Provider |
JP Morgan Chase Bank, 12thFloor, 125 London Wall, London, EC2Y 5AJ |
Flexible Drawing Facility Provider |
Barclays Bank PLC, 5 The North Colonnade, Canary Wharf, London, E14 4BB (Facility cancelled on 17th March 2014) |