WM Treasury PLC Statement re issuer substitution & Group amalgam'n (0430M)

TIDM17FX

RNS Number : 0430M

WM Treasury PLC

12 September 2019

WM Treasury Plc

12 September 2019

WM Treasury Plc

(the Issuer)

The Issuer announces that:

(a) on 1 September 2019, Whitefriars Housing Group Limited (each the Original Borrower in respect of its GBP200,000,000 4.625 per cent. Secured Bonds due 2042 (ISIN: XS0859484239) (the Bonds)) amalgamated with Family Housing Association (Birmingham) Limited, Optima Community Association Limited, West Mercia Homes Limited and WM Housing Group Limited, pursuant to section 109 of the Co-operative and Community Benefit Societies Act 2014 (the Act), to form one registered society within the meaning of the Act, being Citizen Housing Group Limited, (the Amalgamation). The Amalgamation is a Permitted Reorganisation for the purpose of the Original Loan Agreement; and

   (b)      on 12 September 2019, the Issuer: 

(i) in accordance with Clause 21 (Substitution) of the Bond Trust Deed dated 3 December 2012 (the Bond Trust Deed) and with the consent Prudential Trustee Company Limited (the Bond Trustee), substituted in its place Citizen Treasury Plc (the New Issuer) as the principal debtor under the Bonds and the Bond Trust Deed (the Substitution); and

(ii) entered into documentation supplemental to the Bond Trust Deed, the Original Loan Agreement and the other Transaction Documents to reflect the Amalgamation and give effect to the Substitution.

Applications have been made to the Financial Conduct Authority and the London Stock Exchange to reflect the Substitution in the Official List and the listing on the regulated market, respectively, with effect from 13 September 2019.

Terms used but not defined in this announcement have the meanings given to them in the Bond Trust Deed.

For further information, please contact: Gary Booth

   Address:                     Citizen Treasury Plc 

4040 Lakeside

Solihull Parkway

Birmingham Business Park

Birmingham B37 7YN

   Telephone:                 0121 329 0451 
   Email address:           [e-mail] 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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September 12, 2019 07:00 ET (11:00 GMT)