LONDON - Tower Bridge Funding 2023-1 PLC, a structured finance entity involved in residential mortgage-backed securitization, has announced key updates regarding Belmont Green Finance Limited, the entity acting as Seller, Mortgage Administrator, and Cash Administrator for the securitization transaction. Belmont Green Finance Limited, now known as Vida Bank Limited, has attained authorization to accept deposits, a milestone often equated with acquiring a UK banking license. This development took effect on November 19, 2024.
In a subsequent move, the company underwent a name change to Vida Bank Limited, which became official on November 25, 2024. Alongside its rebranding, Vida Bank Limited has also updated its corporate website address to www.vidabank.co.uk.
This information was communicated to Tower Bridge Funding 2023-1 PLC by Vida Bank Limited and is being relayed to note holders purely for informational purposes, adhering to the Note Condition 13, which outlines the protocol for notifying note holders.
The notes in question, which include Class A, B, C, D, S, Z1, and Z2, are all due in October 2064. The Master Definitions Schedule, dated January 31, 2023, and signed by Cadwalader, Wickersham & Taft LLP and Allen & Overy LLP, is incorporated into this notice and provides the framework for interpretation of terms used herein.
This announcement is based on a press release statement and is intended to keep investors and stakeholders informed of the latest corporate developments concerning the securitization transaction managed by Tower Bridge Funding 2023-1 PLC and the newly licensed Vida Bank Limited.
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