Jersey Homes Trust Loans: Assignment from Lloyds Bank PLC to Lloyds Bank International Limited

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A decision made 16 March 2016:

Decision Reference: MD-TR-2016-0026
Decision Summary Title:	Lloyds Bank International Ltd/Jersey Homes Trust – approval of assignment		Date of Decision Summary:	7th March 2016
Decision Summary Author:	Head of Shareholder Relations		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title:	Lloyds Bank International Ltd/Jersey Homes Trust – approval of assignment		Date of Written Report:	7th March 2016
Written Report Author:	Head of Shareholder Relations		Written Report : Public or Exempt?	Public
Subject: To approve an assignment from Lloyds Bank plc (formerly known as Lloyds TSB Bank plc) to Lloyds Bank International Limited (LBIL) in respect of documentation relating to two loans to Jersey Homes Trust where the Public had issued letters of comfort.
Decision(s): The Minister authorised the Treasurer of the States to sign the Assignment Document (a copy of which is attached to the written report as Appendix A) in respect of the two letters of comfort.
Reason(s) for decision: Lloyds Bank plc (the Assignor) has with effect from 30th October 2015 assigned all its right, title interest and obligations in the Loan facilities to Lloyds Bank International Ltd (the Assignee). Jersey Homes Trust, as the Borrower, has acknowledged the same. The Assignor has also agreed to assign all its right, title interest and obligations in the Public Documentation and the Assignee has agreed to accept an assignment of the same. The Public, through the Treasurer of the States, as parties to the Public Documentation (letters of comfort) need to approve the Assignment to acknowledge and accept the same.
Resource Implications: There are no resource implications, financial or manpower, arising from this decision.
Action required: The Head of Decision Support to notify the Head of Shareholder Relations once the decision has been approved.
Signature:		Position: Senator A J H Maclean, Minister for Treasury and Resources
Date Signed:		Date of Decision: