PPC Zeus Announces Sub-Servicer Assignment for €325 Million Notes

PPC Zeus Designated Activity Company has announced the reassignment of its sub-servicer duties affecting €325,020,000 Fixed Rate Asset Backed Notes due 2028. A written resolution was passed by senior noteholders on January 16, 2025, consenting to assign the Sub-Servicing Agreement to a new joint venture. This entity will be formed by the current Servicer and Sub-Servicer through a business spin-off, creating a Single Member Société Anonyme called the "New Company".

This restructuring is formalized through a consent letter as of January 20, 2025, involving all significant parties: the Sub-Servicer, the Note Trustee, the Security Trustee, the Issuer, the Servicer, and the Seller. Upon the New Company's incorporation, it becomes the successor for servicing the Purchased Receivables under the notes. The notice emphasizes that further consultation with professional advisers is advisable for noteholders unfamiliar with these developments.