Financial Guaranty UK Limited De-Risking and Contemplated Consent Solicitations (6271F)
November 17 2020 - 9:30AM
UK Regulatory
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RNS Number : 6271F
Financial Guaranty UK Limited
17 November 2020
Financial Guaranty UK Limited
De-Risking Exercise and Contemplated Consent Solicitations
LONDON, 17 November 2020. Financial Guaranty UK Limited ("FGUK")
(formerly FGIC UK Limited) today announces that it is currently
undergoing a de-risking exercise in relation to its financial
guarantee portfolio. This exercise includes seeking to remove or
substantially reduce certain of the financial guarantees in its
portfolio, subject to market conditions and reaching agreements on
acceptable terms with the relevant counterparties. To this end FGUK
is contemplating conducting consent solicitations in respect of
certain series of bonds in respect of which it has provided a
financial guarantee. There can be no assurance as to the outcome of
such de-risking exercise, which is subject to various factors
outside of the control of FGUK. In particular, there can be no
assurance as to which financial guarantees in FGUK's current
financial guarantee portfolio, if any, will be removed or
substantially reduced.
FGUK is the financial guarantor of the following series of bonds
that are listed on the main market of the London Stock
Exchange.
Name of Issuer Name of Series ISIN/ Common Code
Peterborough (Progress Health) plc GBP446,115,000 5.58 per cent. Guaranteed XS0308856276 / 030885627
Secured Bonds due October 2042
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Consort Healthcare (Birmingham) Funding plc GBP398,680,000 1.972 per cent. Index-Linked XS0257525112 / 025752511
Guaranteed Secured Bonds due 2044
-------------------------------------------- -------------------------
Northern Gas Networks Finance Plc GBP250,000,000 4.875 per cent. Guaranteed XS0234964459 / 023496445
Bonds due 2027
-------------------------------------------- -------------------------
Northern Gas Networks Finance Plc GBP255,000,000 4.875 per cent. Guaranteed XS0234964533 / 023496453
Bonds due 2035
-------------------------------------------- -------------------------
Consort Healthcare (Mid Yorkshire) Funding GBP214,531,000 2.055 per cent. Index-Linked XS0307799246 / 030779924
plc Guaranteed Secured Bonds due 2041
-------------------------------------------- -------------------------
Bishopsgate Asset Finance Limited GBP203,680,000 Guaranteed Asset Backed XS0263456344 / 026345634
Fixed Rate Notes due 2044
-------------------------------------------- -------------------------
For further information, please contact:
Financial Guaranty UK Limited
Jennifer Hegemann
+44 20 7866 8700
notices@financialguarantyuk.com
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