LONDON - Saltaire Finance plc, a company incorporated in England and Wales, has announced the cancellation of £66.5 million in principal amount of its 2.711 percent guaranteed secured bonds due 2052/2054. The bonds were part of a £6 billion Guaranteed Secured Bond Programme and were unconditionally and irrevocably guaranteed by the Secretary of State for Housing, Communities and Local Government in the UK.
The cancellation of these bonds, which were classified as Retained Bonds according to the programme memorandum dated June 9, 2021, and pricing supplements from May 6, 2022, and August 22, 2022, will reduce the aggregate outstanding principal amount of the bonds in issue to £133.5 million. Following this cancellation, there are no Retained Bonds held by or on behalf of the Issuer.
These Retained Bonds were originally part of a larger issuance aimed at raising capital under the Programme, which was guaranteed by the UK government as part of its commitment to support housing and community development initiatives.
The cancellation was carried out in accordance with the terms and conditions set out in the Programme Memorandum. The announcement made by Saltaire Finance plc is considered to contain inside information pursuant to Article 7 of the Market Abuse Regulation (UK MAR), which is part of domestic UK law following the European Union (Withdrawal) Act 2018.
This move by Saltaire Finance plc comes as part of the company's financial management strategy, and the cancellation is a routine process that adjusts the amount of debt outstanding in the market.
The information provided in this article is based on a press release statement issued by Saltaire Finance plc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.