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Name | Symbol | Market | Type |
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Peterb. 5.58% | LSE:50PS | London | Bond |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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TIDM50PS
RNS Number : 8409B
Peterborough (Progress Health) plc
21 June 2016
RNS ANNOUNCEMENT
PETERBOROUGH (PROGRESS HEALTH) PLC - RNS ANNOUNCEMENT
For immediate release
21 June 2016
PETERBOROUGH (PROGRESS HEALTH) PLC (the "Issuer")
GBP446,115,000, 5.58 per cent. Guaranteed Secured Bonds due 2042
(including up to GBP50,000,000 Variation Bonds) unconditionally and irrevocably guaranteed as to scheduled payments of principal and interest pursuant to a bond financial guarantee issued by FGIC UK Limited (the "Bonds")
(ISIN XS0308856276)
Peterborough City Hospital (PCH)
Peterborough and Stamford Hospitals National Health Service Foundation Trust (the Trust) has requested the Termination of Estate Services at PCH, being one of the three sites which form the subject of the Project and at which the Estate Services are performed by Brookfield Multiplex Services Europe Ltd (Brookfield Services).
Progress Health has disputed the Trust's assertion that a right to Terminate the Estate Services has arisen. However, Progress Health is working with the Trust and Brookfield Services to review the Trust's request and the means by which any change in Service Provider may be implemented if required.
The Estate Services continue to be performed and will do so during the course of discussions between the parties.
Progress Health has continued to meet its financial commitments, including its most recent Debt Service Obligations on 2 April 2016, and expects to be able to meet is Debt Service Obligations due on 2 October 2016.
The Issuer is taking legal advice with respect to the matters mentioned in this announcement and reserves its position.
Enquiries
The Issuer
Peterborough (Progress Health) PLC
8 White Oak Square
Swanley
Kent
BR8 7AG
Attention: Matt Rollings
The Principal Paying Agent
Bank of America, N.A.
3rd Floor, 2 King Edward Street
London
EC1A 1HQ
Attention: John Salmon
The Bond Trustee
BofAML Trustees Ltd
3rd Floor, 2 King Edward Street
London
EC1A 1HQ
Attention: John Salmon
Important information
This announcement is not a prospectus, is distributed for information purposes only and does not constitute or form part of any offer or invitation to issue, acquire or dispose of any securities in any jurisdiction. Nothing in this document is intended to amount to an invitation or inducement to engage in investment activity. Nothing in this document amounts to the giving of advice. If you are in any doubt as to the action you should take, you should consult a professional adviser.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
June 21, 2016 07:17 ET (11:17 GMT)
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