Issuer |
Paragon Secured Finance (No.1) PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ |
Closing Date |
December 2004 |
Originator |
Paragon Personal Finance Limited, 51 Homer Road, Solihull, West Midlands, B91 3QJ |
Notes Issued |
Class A |
Class B |
Class C |
Original Rating (S&P/Fitch) |
AAA/AAA |
A/A |
BBB/BBB |
Current Rating (S&P/Fitch) |
AAA/AAA |
AA/AA |
AA-/BBB+ |
Original Notes |
£231,000,000 |
£42,000,000 |
£27,000,000 |
Note Denominations |
£50,000 |
£50,000 |
£50,000 |
Initial Margins |
20bp |
75bp |
100bp |
Step Up Dates |
15 November 2009 |
15 November 2009 |
15 November 2009 |
Step Up Margins |
40bp |
150bp |
200bp |
Optional Redemption Dates |
15 November 2008 |
15 November 2008 |
15 November 2008 |
Substitution Period |
15December 2004 – 15 November 2008 |
Principal Determination Dates |
Last business day of April, July, October and January |
Quarterly Interest Payment Dates |
15 May, 15 August, 15 November, and 15 February |
Lead Managers |
Barclays Capital, 5 The North Colonnade, Canary Wharf, London, E14 4BB |
Administrator |
Paragon Finance 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 & Poors, 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/Administrator |
Slaughter and May, One Bunhill Row, London, EC1Y 8YY |
Legal Advisors to the Lead Manager and Trustee |
Herbert Smith, Exchange House, Primrose Street, London, EC2A 2HS |
Auditors to the Issuer |
KPMG, One Snowhill, Snowhill Queensway, Birmingham, B4 6GH |
Underlying Assets |
Second Charged Residential Mortgage Loans |
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 |
SWAP Counterparty |
Barclays Bank PLC, 5 The North Colonnade, Canary Wharf, London, E14 4BB |