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EUROSAIL-NL 2007-1 B.V.

THIS NOTICE IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION

 

This notice is made pursuant to the Act on Financial Supervision (Wet op het financieel toezicht), pursuant to which inside information should be made forthwith available .

 

If you are in any doubt as to the action you should take, you are recommended to seek your own financial, legal or other advice immediately from your stockbroker, bank manager, solicitor, accountant or other appropriately authorised independent financial adviser.

 

Capitalised terms used herein have the meanings defined or construed in the Master Definitions Agreement entered into by the Issuer in connection with the issue of the Notes on 26 July 2007 as amended and restated.

 

 

EUROSAIL-NL 2007-1 B.V.
(the "
Issuer ")

Notice is hereby given with respect to notes of each of the following class(es):

EUR 306,250,000 Class A Mortgage Backed Floating Notes due April 2040,

 ISIN: XS0307254259/US298797AA96

EUR 14,525,000 Class B Mortgage Backed Floating Rate Notes due April 2040,

 ISIN: XS0307256114/US298797AB79

EUR 14,000,000 Class C Mortgage Backed Floating Rate Notes due April 2040,

 ISIN: XS0307257435/US298797AC52

EUR 12,775,000 Class D Mortgage Backed Floating Rate Notes due April 2040,

ISIN: XS0307260496/US298797AD36

( the "Put Option Notes" and the holders thereof the "Put Option Noteholders" )

 

 

 

Amsterdam,   6 February 2013

 

 

                                                           

Notice is hereby given by the Issuer that in accordance with the Terms and Conditions of the Notes, each Put Option Noteholder has the option (a “Put Option”) to offer any or all of the Put Option Notes held by it to the Issuer for redemption on the Quarterly Instruments Payment Date falling on 17 April 2013 (the “Put Option Date”) and provided that there is no Principal Deficiency on any Class of Put Option Notes, in accordance with the provisions of the Note Condition 5(g).

 

To exercise the Put Option the Put Option Noteholder must during the period starting on 6 February 2013 and ending on 1 March   2013, give notice to the Issuer and the Principal Paying Agent of such exercise through its custodian and in accordance with the standard procedures of Euroclear and Clearstream, Luxembourg (which may include notice being given on his instruction by Euroclear or Clearstream, Luxembourg to the Principal Paying Agent by electronic means) in a form acceptable to Euroclear and Clearstream, Luxembourg from time to time.

 

The Issuer informs the Put Option Noteholders that it received a letter from the Seller stating that the Seller, until further notice, does neither purchase nor accept assignment of any Mortgage Receivables on the First Put Option Date and/or on any subsequent Put Option Date.

 

In the current market circumstances, the Issuer does not expect to succeed in finding any third party which would be interested in purchasing Mortgage Receivables outstanding against the Redemption Repurchase Price as defined in the Transaction Documents on or before the upcoming Put Option Date. Consequently, the Issuer expects not to have sufficient funds available to redeem the Put Option Notes on the upcoming Put Option Date.

 

In this situation, in order to avoid that the Put Option Notes of the Put Option Noteholders who wish to exercise the Put Option would unnecessarily be blocked for trading until the Put Option Date, the Put Option Notes in relation to which a notice of exercise of the Put Option is delivered will not be blocked.

 

Pursuant to the terms and conditions of the Notes, Lehman Brothers International (Europe) or any company belonging to the same group of companies as Lehman Brothers International (Europe) holding any Put Option Notes does not have the right to exercise the Put Option.

 

HSBC Bank plc is the Principal Paying Agent

 

HSBC Bank plc

Level 27, 8 Canada Square

London E14 5HQ, the United Kingdom

Attention: The Manager, Repack Client Services, Corporate Trust and Loan Agency, Security Services

Fax: +44 (0) 20 7260 8932

 

 EUROSAIL-NL 2007-1 B.V.

 Fred. Roeskestraat 123

 1076   EE Amsterdam, the Netherlands

 Attention : ATC Management B.V., Director of the Issuer

 Fax: +31 20 577 1188

 

Put Option 17 April 2013
Private Wealth Services