UPP Bond 1

UPP Bond 1 Issuer Plc is part of UPP Group (defined as UPP REIT Holdings Limited and its subsidiaries) which is the UK’s leading provider of on-campus residential and academic accommodation infrastructure.

UPP Bond 1 Issuer PLC is an incorporated, special purpose company listed on the Irish Stock Exchange (ISE). The Company’s ultimate parent is UPP REIT Holdings Limited which is the UK’s leading provider of on-campus residential and academic accommodation infrastructure.
The Company was admitted to the ISE on 5 March 2013 and has issued three tranches of debt; £307,100,000 Amortising Fixed Rate Senior Secured Notes due 2040 (ISIN: XS0897452412); £75,000,000 Amortising RPI Index-Linked Senior Secured Notes due 2047 (ISIN: XS0897451877) and £149,700,000 Amortising RPI Index Linked Notes Due 2049 (ISIN: XS1148134601).
Notes issued under the Programme will indirectly benefit from security granted by the AssetCos specified below in respect of seven student accommodation concessions granted by seven English higher education institutions, namely:

• University of York – UPP (Alcuin) Limited
• University of Nottingham – UPP (Broadgate Park) Holdings Limited
• University of Kent – UPP (Kent Student Accommodation) Limited
• Nottingham Trent University – UPP (Nottingham) Limited
• Oxford Brookes University – UPP (Oxford Brookes) Limited
• University of Plymouth – UPP (Plymouth Three) Limited
• University of Exeter – UPP (Exeter) Limited

The payment of interest and repayment of principal by each AssetCos in respect of the On-Loan will provide the primary source of funds for the Issuer to make payments of interest and repayments (or prepayments) of principal under the Notes.