Featured events

Events | Luxembourg

Rules, Data, Respect

29 Sep 2022

Watch event recordings >

Events | London

Rules Compliance Respect: Meeting the technology and data challenge

28 Sep 2022

Watch the recording >

Events | Virtual

ESG: Tackling the EU Taxonomy

10 Mar 2022

Watch the recording >
Show all events >

Castell 2017-1 plc

Transaction details


Optimum Credit Limited


Residential Mortgages

Legal adviser(s):

Herbert Smith Freehills LLP, Linklaters LLP, Clifford Chance LLP and CMS Cameron McKenna LLP


Optimum Credit Limited

Lead manager:

NatWest Markets & Natixis

Intertrust role:

UK Directors, Corporate Administration, Share Trustee and Financial Services




£268.5m Residential Mortgage Backed Securities Due 2044

Offering documents

Prospectus 07 Jul 2017


Section 172 statement

Section 172(1) of Companies Act 2006 requires the directors to act in the way they consider, in good faith, would be most likely to promote the success of the Company for the benefit of its members as a whole, and in doing so have regard (amongst other matters) to:
a)    the likely consequences of any decision in the long term,
b)    the interests of the company’s employees,
c)    the need to foster the company’s business relationships with suppliers, customers and others,
d)    the impact of the company’s operations on the community and the environment,
e)    the desirability of the company maintaining a reputation for high standards of business conduct, and
f)     the need to act fairly as between members of the company
As a special purpose vehicle the governance structure of the Company is such that the key policies have been predetermined at the time of issuance. The directors have had regards to the matters set out in section 172(1) of Companies Act 2006 as follows:
With reference to the likely consequences of any decision in the long term, the Transaction Documents have been formulated to achieve the Company’s purpose and business objectives, safeguard the assets
and promote the success of the Company with a long term view and in accordance with relevant securitisation legislation.
The matters set out in subsections (b)–(f) have limited or no relevance to the Company for the following reasons:
·       The Company has no employees;
·       The Company has appointed various professional third parties to perform certain roles governed by the Transaction Documents;
·       As a special purpose vehicle, the Company has no physical presence or operations and accordingly has minimal impact on the community and the environment; and
·       The Company has a sole member with the issued shares all held on a discretionary trust basis for charitable purposes.
In accordance with section 426B of Companies Act 2006 a copy of this statement is available at:

Our services

Corporate Client Services

Operating internationally can be challenging. You need a partner who understands local rules, culture and customs and how they affect legal and regulatory requirements. That’s where we come in.

Can't find what you're looking for?

View all corporate client services

Private Capital & Hedge Funds Services

We differentiate our global leading fund services through our geographical spread, domain strength, technology offering and depth of services.

Can't find what you're looking for?

View all private capital & hedge fund services

Capital Markets

As capital markets evolve across the globe, you need a bespoke approach from a service provider with a genuine understanding of how markets are changing.

Can't find what you're looking for?

View all capital markets services

Private Wealth

By understanding the importance of long-term relationships built around trust, we aim to truly understand your values. We’re your partner to help you protect, preserve and plan for the future.

Can't find what you're looking for?

View all private wealth services