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Name | Symbol | Market | Type |
---|---|---|---|
Anglian Osp 26 | LSE:10OI | London | Medium Term Loan |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 99.82 | 0 | 01:00:00 |
TIDM10OI
RNS Number : 2933G
Anglian Water (Osprey)Financing PLC
28 February 2018
Amendment of Final Terms for Anglian Water (Osprey) Financing Plc's (the "Issuer") GBP 240,000,000 4.000 per cent. Notes due March 2026 (the "Notes") issued under its GBP1,000,000,000 Guaranteed Secured Medium-Term Note Programme (the "Programme")
ISIN: XS1732478000
Noteholders are hereby notified that it has come to the attention of the Issuer that the Broken Amount specified in Paragraph 14(iv) of the Final Terms published in relation to the Notes is incorrect and should be amended to account for the shorter first Interest Accrual Period.
The Issuer believes that, since the commercial intention (as reflected in other provisions in the Final Terms) is that there is a short coupon for the first Interest Accrual Period, Paragraph 14(iv) of the Final Terms should state a "Broken Amount" that reflects interest actually accrued in that short first Interest Accrual Period.
Consistent with Condition 5(g) (Calculations) of the Notes, the Day Count Fraction (calculated by Actual/Actual-ICMA) would be:
No. of days in the Calculation Period ÷ No. of actual days
= 90 ÷ 365 = 0.2465 for the first Interest Accrual Period
The amount of interest payable per Calculation Amount in respect of the first Interest Accrual Period would be the product of the Rate of Interest, the Calculation Amount and the Day Count Fraction for the first Interest Accrual Period. Therefore, that amount would be:
0.04 x GBP1,000 x 0.2465 = GBP9.86 per Calculation Amount.
Accordingly, Paragraph 14(iv) of the Final Terms should be corrected to state that the Broken Amount is "GBP9.86 per Calculation Amount payable on the Interest Payment Date falling on 8 March 2018" instead of "Not Applicable".
The Issuer has therefore requested Deutsche Trustee Company Limited as the note trustee under the trust deed (the "Note Trustee") to agree to an amendment of the Final Terms to reflect the correction of the Broken Amount as set out above (the "Proposed Amendment").
Pursuant to the powers of modification granted to it under the trust deed in respect of the Notes, the Note Trustee presently intends to agree with the Issuer to the Proposed Modification, unless it receives a reasoned objection from Noteholders to the Proposed Modification. Noteholders should note that it is intended that the Proposed Modification be made by 12:00 (noon) on 7 March 2018 (the day prior to the Interest Payment Date falling on 8 March 2018).
The amended Final Terms will be published upon their amendment and contain the final terms of the Notes and must be read in conjunction with the Prospectus dated 21 July 2017 (the "Prospectus") which constitutes a base prospectus for the purposes of the Prospectus Directive.
Should Noteholders have any objections in relation to the Proposed Modification, they should contact the Note Trustee or the Issuer before 12:00 (noon) on 7 March 2018 using the following contact details:
The Issuer:
Jane Pilcher
Group Treasurer
Anglian Water (Osprey) Financing plc
LANCASTER HOUSE, LANCASTER WAY
ERMINE BUSINESS PARK
HUNTINGDON
CAMBRIDGESHIRE
PE29 6XU
TEL: 01480 323503 FAX: 01480 323540
The Note Trustee:
Deutsche Trustee Company Limited
Winchester House
1 Great Winchester Street
London EC2N 2DB
Email: leah.richmond@db.com
DISCLAIMER - INTENDED ADDRESSEES
This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction.
This announcement is not an offer of securities for sale into the United States. The securities referred to above have not been, and will not be, registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. There has not been and will not be a public offer of the securities in the United States.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUWANRWRAUUAR
(END) Dow Jones Newswires
February 28, 2018 11:14 ET (16:14 GMT)
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