Santander UK Plc Amendments to Global Covered Bond Swap Agreement (0003M)

TIDMSAN

RNS Number : 0003M

Santander UK Plc

11 September 2019

SANTANDER UK PLC

(incorporated in England and Wales, Registered No. 2294747)

2 Triton Square

Regent's Place

London NW1 3AN

11 September 2019

 
       Series of Covered Bonds                              Issue Date 
       Series 18 EUR 100,000,000 N covered bond due      18 November 2010 
        18 November 2025 
                                                       -------------------- 
       Series 19 EUR 125,000,000 N covered bond due      18 November 2010 
        18 November 2030 
                                                       -------------------- 
       Series 20 NOK 1,600,000,000 covered bonds due      7 December 2010 
        7 December 2020 
                                                       -------------------- 
       Series 21 EUR 100,000,000 N covered bond due       14 January 2011 
        15 January 2025 
                                                       -------------------- 
       Series 3, Tranche 2 EUR 250,000,000 covered        7 February 2011 
        bonds due 12 April 2021 
                                                       -------------------- 
       Series 23 GBP 1,000,000,000 covered bonds due     28 February 2011 
        March 2026 
                                                       -------------------- 
       Series 24 GBP 1,250,000,000 covered bonds due       14 April 2011 
        14 April 2021 
                                                       -------------------- 
       Series 25 EUR 100,000,000 N covered bond due         24 May 2011 
        24 May 2021 
                                                       -------------------- 
       Series 28 EUR 53,000,000 N covered bond due        5 December 2011 
        21 December 2026 
                                                       -------------------- 
       Series 29 EUR 100,000,000 N covered bond due       9 December 2011 
        9 December 2026 
                                                       -------------------- 
       Series 30 EUR 30,000,000 due N covered bond        5 January 2012 
        due 5 January 2027 
                                                       -------------------- 
       Series 31 EUR 30,000,000 N covered bond due        4 January 2012 
        4 January 2027 
                                                       -------------------- 
       Series 3, Tranche 3 EUR 250,000,000 covered        27 January 2012 
        bonds due 12 April 2021 
                                                       -------------------- 
       Series 32 EUR 88,000,000 N covered bond due       15 February 2012 
        6 February 2032 
                                                       -------------------- 
       Series 37 GBP 750,000,000 covered bonds due       16 February 2012 
        16 February 2029 
                                                       -------------------- 
       Series 41 EUR 47,000,000 N covered bond due         21 March 2012 
        12 March 2027 
                                                       -------------------- 
       Series 3, Tranche 4 EUR 600,000,000 covered         27 March 2012 
        bonds due 12 April 2021 
                                                       -------------------- 
       Series 44 EUR 127,000,000 N covered bond due        12 April 2012 
        12 April 2022 
                                                       -------------------- 
       Series 45 EUR 75,000,000 N covered bond due         13 April 2012 
        13 April 2023 
                                                       -------------------- 
       Series 46 EUR 108,000,000 N covered bond due        16 April 2012 
        16 April 2030 
                                                       -------------------- 
       Series 47 EUR 50,000,000 N covered bond due         18 April 2012 
        18 April 2028 
                                                       -------------------- 
       Series 48 EUR 45,000,000 N covered bond due          24 May 2012 
        15 May 2027 
                                                       -------------------- 
       Series 49 EUR 35,000,000 N covered bond due          8 June 2012 
        8 June 2028 
                                                       -------------------- 
       Series 50 EUR 40,000,000 N covered bond due          8 June 2012 
        8 June 2029 
                                                       -------------------- 
       Series 51 EUR 76,000,000 N covered bond due         20 June 2012 
        20 June 2024 
                                                       -------------------- 
       Series 53 EUR 100,000,000 N covered bond due        19 July 2013 
        18 July 2025 
                                                       -------------------- 
       Series 54 EUR 50,000,000 covered bonds due         21 August 2013 
        21 August 2025 
                                                       -------------------- 
       Series 55 EUR 50,000,000 covered bonds due         27 August 2013 
        27 August 2025 
                                                       -------------------- 
       Series 56 EUR 1,000,000,000 covered bonds due     26 November 2013 
        26 November 2020 
                                                       -------------------- 
       Series 59, Tranche 1 EUR 1,000,000,000 covered    18 September 2014 
        bonds due 18 September 2019 
                                                       -------------------- 
       Series 59, Tranche 2 EUR 100,000,000 covered           5 July 2016 
        bonds due 18 September 2019 
                                                       -------------------- 
       Series 63 EUR 1,000,000,000 covered bonds due        9 February 2016 
        9 August 2021 
                                                       -------------------- 
 

(together, the "Covered Bonds")

EUR35,000,000,000 GLOBAL COVERED BOND PROGRAMME (THE "PROGRAMME") OF SANTANDER UK PLC (THE "ISSUER") - AMENDMENTS TO THE RELEVANT COVERED BOND SWAP AGREEMENT UNDER THE PROGRAMME

NOTICE IS HEREBY GIVEN TO HOLDERS OF THE COVERED BONDS THAT:

The following modifications have been made to the 1992 ISDA Master Agreement (including the Schedule and Credit Support Annex thereto) between Santander UK plc, Abbey Covered Bonds LLP and Deutsche Trustee Company Limited (in its capacity as Security Trustee) dated as of 14 October 2009 (the Relevant Covered Bond Swap Agreement) under the Programme relating to the Series of Covered Bonds set out in the table above.

The amendments to the Relevant Covered Bond Swap Agreement have been effected by the entry into of a deed of amendment dated as of 5 September 2019 (the Amendment Deed).

Compliance and implementation of the Relevant Covered Bond Swap Agreement with the latest updates to the Fitch, Moody's and Standard & Poor's rating agency criteria and methodologies

Prior to 5 September 2019, the Relevant Covered Bond Swap Agreement was drafted based on the historical rating agency criteria and methodologies for Fitch, Moody's and Standard & Poor's. Following entry into the Amendment Deed, the Relevant Covered Bond Swap Agreement reflects the following criteria:

(i) in respect of Fitch, Fitch's structured finance report entitled "Structured Finance and Covered Bonds Counterparty Rating Criteria" as amended and supplemented by Fitch's "Structured Finance and Covered Bonds Counterparty Rating Criteria - Derivative Addendum", dated 18 April 2019;

(ii) in respect of Moody's, Moody's rating methodology report entitled "Approach to Assessing Swap Counterparties in Structured Finance Cash Flow Transactions", originally dated 16 March 2015, as updated on 29 January 2019; and

(iii) in respect of Standard & Poor's, Standard & Poor's structured finance report entitled "Counterparty Risk Framework: Methodology and Assumptions", as updated on 8 March 2019.

Capitalised terms used but not defined herein shall have the meanings given thereto in the Amended and Restated Master Definitions and Construction Agreement relating to the Programme dated 18 April 2019 (as amended from time to time), and the Relevant Covered Bond Swap Agreement.

Copies of the Relevant Covered Bond Swap Agreement will be made available for Covered Bondholders on the following website: https://www.santander.co.uk/uk/about-santander-uk/debt-investors/santander-uk-covered-bonds

For further information, please contact: [e-mail]

Disclaimer - Intended Addressees

Please note that the information contained in this announcement may be addressed to and/or targeted at persons who are residents of particular countries (specified in the relevant Final Terms) only and is not intended for use and should not be relied upon by any person outside these countries and/or to whom the offer contained in the relevant Final Terms is not addressed. Prior to relying on the information contained in the relevant Final Terms you must ascertain from the relevant Final Terms whether or not you are part of the intended addressees of the information contained therein.

Your right to access this service is conditional upon complying with the above requirement.

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.

END

MSCLLFSLAFILLIA

(END) Dow Jones Newswires

September 11, 2019 07:46 ET (11:46 GMT)