LONDON - Tower Bridge Funding 2022-1 PLC, a securitization issuer, has announced that Belmont Green Finance Limited, a key entity in its residential mortgage-backed securitization transaction, has received authorization to accept deposits, often referred to as a UK banking license. The authorization was granted by the Prudential (LON:PRU) Regulation Authority and Financial Conduct Authority on November 19, 2024.
In conjunction with this development, Belmont Green Finance Limited has changed its name to Vida Bank Limited as of November 25, 2024. Along with the name change, the company has updated its corporate website address to www.vidabank.co.uk.
This information was disseminated purely for informational purposes to note holders in accordance with Note Condition 13, which stipulates the procedures for notifying note holders. The notes involved in this transaction include several classes, all due in December 2063, and are listed with both Regulation S and Rule 144a ISINs.
The press release statement emphasizes that the Master Definitions Schedule, which was initially dated January 24, 2022, and identified by Cadwalader, Wickersham & Taft LLP and Allen & Overy LLP, is incorporated into this notice. Therefore, definitions and interpretations provided in the Master Definitions Schedule apply to this notice.
The announcement is a factual update on the regulatory and corporate status of Belmont Green Finance Limited, now Vida Bank Limited, which serves as the seller, mortgage administrator, and cash administrator in the securitization involving Tower Bridge Funding 2022-1 PLC.
This news is based on a press release statement and provides note holders and interested parties with the latest developments regarding Vida Bank Limited's role and status within the securitization transaction managed by Tower Bridge Funding 2022-1 PLC.
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