A2D2 A2d Fund.26

TIDMA2D2

RNS Number : 5399F

A2D Funding II PLC

29 October 2018

29 October 2018

A2D FUNDING II PLC

4.50% UNSECURED STERLING BONDS DUE 2026

GUARANTEED BY A2DOMINION HOUSING GROUP LIMITED

LATE BOND INTEREST PAYMENT

A2D Funding II plc ("A2D Funding II") issued GBP150,000,000 bonds (the "Bonds") in 2014 the proceeds of which were loaned to A2Dominion Treasury Limited for use by members of the A2Dominion Group. Both the Bonds and the loan to A2Dominion Treasury Limited bear interest at a fixed rate of 4.50% payable semi-annually on 30 March and 30 September. Prudential Trustee Company Limited (the "Trustee") acts as an intermediary between Bondholders and the Issuer.

On 24 September 2018 interest due on the loan was paid in full by A2Dominion Treasury Limited to A2D Funding II. On the same day A2D Funding II transferred money to The Bank of New York Mellon, London Branch (the "Principal Paying Agent") to allow for the payment in full of the interest due on the Bonds on the Interest Payment Date ("IPD") falling due on 30 September 2018. As 30 September 2018 was a Sunday, the IPD defaulted by convention to Monday 1 October 2018.

On 3 October 2018 the Principal Paying Agent contacted A2D Funding II and A2Dominion Group indicating that they could not locate the funds for the Bond interest payment in light of the fact that the payment reference in connection with the payment did not quote the Issuer's prior day funding account number. As a result the Principal Paying Agent sent the money back to the Issuer. On being informed of this A2D Funding II sent the money straight back to the Principal Paying Agent on 5 October 2018 quoting the new specific reference requirement. On receipt of the funds from A2D Funding II on 5 October 2018 the Principal Paying Agent paid the money over to the clearing systems allowing the interest due to the Bond holders on 1 October 2018 to be paid.

Interest payments for the delayed payments have been made by the Principal Paying Agent to the clearing systems and have been paid to the Bond holders by the clearing systems.

No event of default on the Bonds has occurred as the interest was eventually paid within 14 days of the IPD.

Processes and procedures have been adjusted by A2D Funding II and the Principal Paying Agent to ensure that this issue does not reoccur.

The Trustee has been informed of the resolution of the issue.

-Ends-

For further information contact:

Law Debenture Corporate Services Limited (Company Secretary) +44 20 7696 5233

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END

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October 29, 2018 07:14 ET (11:14 GMT)

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