Issuer |
Paragon Mortgages (No.13) PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ |
Closing Date |
26 October 2006 |
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 A1 |
Class A2a |
Class A2b |
Class A2c |
Class B1a |
Class B1b |
Class C1a |
Class C1b |
Original Rating (S&P/Moody’s/Fitch) |
A-1+/P-1/F1+ |
AAA/Aaa/AAA |
AAA/Aaa/AAA |
AAA/Aaa/AAA |
AA/Aa2/AA |
AA/Aa2/AA |
A/A2/A |
A/A2/A |
Current Rating (S&P/Moody’s/Fitch) |
AA/Aaa/AAA |
AA/Aaa/AAA |
AA/Aaa/AAA |
AA/Aaa/AAA |
AA/Aa2/AAA |
AA/Aa2/AAA |
A+/A2/A+ |
A+/A2/A+ |
Original Notes |
$1,500,000,000 |
£125,000,000 |
€315,000,000 |
$350,000,000 |
£56,000,000 |
€84,000,000 |
£13,000,000 |
€81,000,000 |
GBP Equivalent |
£797,872,340 |
£125,000,000 |
£211,409,396 |
£186,170,213 |
£56,000,000 |
£56,375,839 |
£13,000,000 |
£54,362,416 |
Currency Exchange Rates |
£1 : $1.88 |
N/A |
£1 : €1.49 |
£1 : $1.88 |
N/A |
£1 : €1.49 |
N/A |
£1 : €1.49 |
Note Denominations |
$100,000 |
£50,000 |
€50,000 |
$100,000 |
£50,000 |
€50,000 |
£50,000 |
€50,000 |
Initial Margins |
-1bp |
12bp |
12bp |
9bp |
20bp |
19bp |
40bp |
39bp |
Current Margin |
24bp |
24bp |
24bp |
18bp |
40bp |
38bp |
80bp |
78bp |
Step Up Dates |
July 2012 |
October 2011 |
October 2011 |
October 2011 |
October 2011 |
October 2011 |
October 2011 |
October 2011 |
Step Up Margins |
24bp |
24bp |
24bp |
18bp |
40bp |
38bp |
80bp |
78bp |
Optional Redemption Dates |
October 2010 |
October 2010 |
October 2010 |
October 2010 |
October 2010 |
October 2010 |
October 2010 |
October 2010 |
Principal Determination Dates |
Last business day of December, March, June and September |
Quarterly Interest Payment Dates |
15 January, 15 April, 15 July and 15 October |
A1 Monthly Interest Payment Date |
15thof each month, commencing 15 November 2006 |
Class A1 Mandatory Transfer Date |
The Interest Payment Date falling on 15 July 2007 and annually thereafter |
Joint Lead Managers |
Barclays Bank PLC, 5 The North Colonnade, London, E14 4BB
The Royal Bank of Scotland PLC, 135 Bishopsgate, London, EC2M 3UR ABN
AMRO Bank, N.V., London Branch, 250 Bishopsgate, London, EC2Y 4AA |
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 & 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 |
U.S.Paying Agent |
Citibank, N.A. 388 Greenwich Street, 14thFloor, New York, N.Y. 10043, U.S.A. |
Tender Agent |
Citibank, N.A. Citigroup Centre, 21stFloor, Canada Square, Canary Wharf, London, E14 5LB |
Class A1 Remarketing Agent |
ABN AMRO Bank, N.V., London Branch, 250 Bishopsgate, London, EC2Y 4AA |
Class A1 Conditional Note Purchaser |
ABN AMRO Bank, N.V., London Branch, 250 Bishopsgate, London, EC2Y 4AA |
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 |
Simmons & Simmons, CityPoint, One Ropemaker Street, London, EC2Y 9SS |
Auditors to the Issuer |
KPMG, One Snowhill, Snowhill Queensway, Birmingham, B4 6GH |
Underlying Assets |
Investment Home Loans |
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 |
Substitute Administrator Facilitator |
Structured Finance Management Limited, 35 Great St. Helen’s, London, EC3A 6AP |
Basis Hedge Providers: |
JP Morgan Chase Bank, 12thFloor, 125 London Wall, London, EC2Y 5AJ
NatWest Markets, N.V. (London Branch), 250 Bishopsgate, London, EC2M 4AA |
Currency SWAP Provider |
HSBC Bank plc, 8 Canada Square, London, E14 5HQ |
Flexible Drawing Facility Provider |
Barclays Bank PLC, 5 The North Colonnade, Canary Wharf, London, E14 4BB (Facility cancelled on 15th April 2014) |