| Issuer |
Paragon Mortgages (No.7) PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ |
| Closing Date |
May 2004 |
| Originators |
Paragon Mortgages Limited, 51 Homer Road, Solihull, West Midlands, B91 3QJ
Mortgage Trust Limited, 51 Homer Road, Solihull, West Midlands, B91 3QJ |
| Notes Issued |
Class A1a |
Class A1b |
Class A1c |
Class B1a |
Class B1b |
| Original Rating (S&P/Moody’s/Fitch) |
AAA/Aaa/AAA |
AAA/Aaa/AAA |
AAA/Aaa/AAA |
A/A2/A |
A/A2/A |
| Current Rating (S&P/Moody’s/Fitch) |
A-/Aa3/AA+ |
A-/Aa3/AA+ |
A-/Aa3/AA+ |
A-/A3/BBB+ |
A-/A3/BBB+ |
| Original Notes |
$450,000,000.00 |
£220,000,000.00 |
€500,000,000.00 |
$82,500,000.00 |
€65,000,000.00 |
| GBP Equivalent |
£252,951,096.12 |
£220,000,000.00 |
£337,500,000.00 |
£46,374,367.62 |
£43,875,000.00 |
| Currency Exchange Rates |
£1 : $1.77 |
|
£1 : €1.48 |
£1 : $1.77 |
£1 : €1.48 |
| Note Denominations |
$100,000 |
£50,000 |
€500,000 |
$100,000 |
€500,000 |
| Initial Margins |
21bp |
21bp |
21bp |
75bp |
75bp |
| Step Up Dates |
May 2010 |
May 2010 |
May 2010 |
May 2010 |
May 2010 |
| Step Up Margins |
42bp |
42bp |
42bp |
150bp |
150bp |
| Optional Redemption Dates |
May 2008 |
May 2008 |
May 2008 |
May 2008 |
May 2008 |
| Principal Determination Dates |
Last business day of January, April, July and October |
| Quarterly Interest Payment Dates |
15 February, 15 May, 15 August and 15 November |
| Joint Lead Managers |
The Royal Bank of Scotland PLC, 135 Bishopsgate, London, EC2M 3UR
Barclays Bank PLC, 5 The North Colonnade, Canary Wharf, 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 |
Moody’s Investors Service Limited, One Canada Square, Canary Wharf, London, E14 5FA
Standard & Poors, 20 Canada Square, Canary Wharf, London, E14 5LH
Fitch Ratings Limited, 30 North Colonnade, London, E14 5GN |
| Principal Paying / Reference Agent/Exchange Rate Agent |
Citibank, N.A. Citigroup Centre, 21stFloor, Canada Square, Canary Wharf, London, E14 5LB |
| Legal Advisors to the Issuer/Administrators |
Sidley Austin Brown & Wood, Woolgate Exchange, 25 Basinghall Street, London, EC2V 5HA |
| Legal Advisors to the Lead Manager and Trustee |
Clifford Chance Limited Liability Partnership, 10 Upper Bank Street, London, E14 5JJ |
| Auditors to the Issuer |
KPMG, One Snowhill, Snowhill Queensway, Birmingham, B4 6GH |
| Underlying Assets |
Investment Home Loans and owner occupied first charged residential mortgages |
| Subordinated Loan Provider |
Paragon Finance PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ |
| Substitute Administrator |
Homeloan Management Limited, The Pavilions, Bridgwater Road, Bristol, BS13 8AE |
| Substitute Administrator Facilitator |
Structured Finance Management Limited, 35 Great St. Helen’s, London, EC3A 6AP |
| SWAP Counterparty |
JP Morgan Chase Bank, 12thFloor, 125 London Wall, London, EC2Y 5AJ |
| Currency SWAP Provider |
The Royal Bank of Scotland PLC, 135 Bishopsgate, London, EC2M 3UR |