Peabody Capital No.2 Plc (3.25% - Sept 2048): 15 September 2018

Peabody Capital Plc is the principle borrowing vehicle of the Peabody Trust. Founded in 1862 as the Peabody Donation Fund, Peabody Trust (Peabody) is now one of London's oldest and largest charitable housing associations providing homes and services to more than 111,000 residents and 8,000 care home services customers. It owns and manages over 55,000 homes across London and the South East and employs over 3,000 people.The Peabody Group works with government and a range of voluntary, private and public sector partners to bring services to its residents and others in communities where it works.

The Valuation Reports were prepared by Jones Lang LaSalle. A summary of the values of the Initial Properties set out in the Valuation Report is set out below:

EUV-SH or, where appropriate MV-ST ...............................................…………………………Total

Units ……........EUV-SH is appropriate. ...... Units…........... MV-ST is appropriate
943……........... £92,360,000 …....................1,588 …...........£423,360,000………………. £515,720,000

Valuations: The borrower shall deliver a Valuation Report to the issuer and the Security Trustee s (i) in the period between 31 March 2023 and the date falling 120 days thereafter (or, at the option of the Borrowers acting together, within the same period in any prior calendar year), and (ii) thereafter within 120 days of each consecutive fifth anniversary of the date on which the Full Valuation Report was previously provided.

Compare/contrast: Peabody Capital No.2 Plc