LONDON - PRS Finance plc, a company incorporated in England and Wales, has announced the cancellation of retained bonds from its £3.5 billion Guaranteed Secured Bond Programme. The bonds, with a principal amount of £50,952,000 and due in 2034, have been cancelled in accordance with the terms and conditions outlined in the programme memorandum and related pricing supplements.
The cancelled bonds, identified by ISIN XS2075778394 and Common Code 207577839, were part of a series originally guaranteed by the Secretary of State for Housing, Communities and Local Government in the UK. The responsibility for this guarantee has shifted over time due to government reorganization, most recently being held by the Secretary of State for Housing, Communities and Local Government.
Following the cancellation, the total outstanding principal amount of these bonds has been reduced to £336,612,000. The company has confirmed that none of the remaining bonds are retained by or on behalf of the issuer.
This financial move by PRS Finance plc is part of the ongoing management of its bond programme. The cancellation of these retained bonds may impact the available liquidity and the overall debt structure of the company. However, it is not uncommon for issuers to adjust their outstanding debt in this manner as part of their treasury and capital management strategies.
The announcement is considered inside information under the Market Abuse Regulation (UK MAR) and has been disseminated in compliance with regulatory obligations. Helena Whitaker, representing CSC Directors (No.3) Limited, previously known as Intertrust Directors 1 Limited, made the announcement on behalf of PRS Finance plc.
The information in this article is based on a press release statement from PRS Finance plc. The cancellation of the bonds is a factual development within the company's financial operations, and this report aims to provide investors and the public with clear and concise information about the event.
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