Issuer: PRS Finance
plc
Date:
16 January 2025
PRS Finance
Plc
(the "Issuer")
(incorporated with
limited liability in England and Wales
with registration
number 9331085)
£3,500,000,000
Guaranteed Secured Bond
Programme
This announcement is released by PRS
Finance plc and contains inside information for the purposes of
Article 7 of the Market Abuse Regulation (EU) 596/2014 (as it forms
part of domestic UK law pursuant to the European Union (Withdrawal)
Act 2018) (UK MAR). For the purposes of UK MAR and Article 2 of the
Commission Implementing Regulation (EU) 2016/1055 (as it forms part
of domestic UK law pursuant to the European Union (Withdrawal) Act
2018), this announcement is made by Helena Whitaker on behalf of
CSC Directors (No.3) Limited (previously known as Intertrust
Directors 1 Limited) as Director of PRS Finance
plc.
Cancellation
of Retained Bonds
PRS Finance Plc 1.500 per cent.
guaranteed secured bonds due 2034
(ISIN: XS2075778394, Common Code:
207577839)
(the "Bonds")
The Issuer announces that it has
cancelled £50,952,000 in
principal amount of the Bonds under the guaranteed secured bond
programme (the "Programme")
established by the Issuer for the issue of bonds unconditionally
and irrevocably guaranteed by the Secretary of State for Housing,
Communities and Local Government (the functions of which were
transferred to the Secretary of State for Levelling Up, Housing and
Communities pursuant to The Transfer of Functions (Secretary of
State for Levelling Up, Housing and Communities) Order 2021, and
subsequently transferred to the Secretary of State for Housing,
Communities and Local Government pursuant to the Transfer of
Functions (Secretary of State for Housing, Communities and Local
Government) Order 2024).
In accordance with the terms and conditions of
the Bonds, the Bonds that have been cancelled were Retained Bonds,
as detailed in the programme memorandum issued by the Issuer in
respect of the Programme on 23 July 2018
(the "Programme
Memorandum") as supplemented by the pricing supplements
dated 1 November 2019 and 4 May 2020.
Following the cancellation, the
aggregate outstanding principal amount of the Bonds in issue will
be £336,612,000, of which none are Retained Bonds held by or on
behalf of the Issuer.
For further information, please contact Venn
Partners LLP (trading as Venn).
Email: legal@venn-partners.com and operations@venn-partners.com
Tel: +44 (0)20 7073 9350
DISCLAIMER -
INTENDED ADDRESSEES
Please note that the information contained in
the Programme Memorandum and the Pricing Supplement may be
addressed to and/or targeted at persons who are residents of
particular countries (specified therein) only and are not intended
for use and should not be relied upon by any person outside these
countries and/or to whom any offer of bonds under the Programme is
not addressed. Prior to relying on the information contained in the
Programme Memorandum and the Pricing Supplement, you must ascertain
whether or not you are part of the intended addressees of the
information contained therein.
This announcement does not constitute
an offering of securities and is not for distribution in the United
States. The securities described in the Programme
Memorandum and the Pricing Supplement (the
"Securities") have not
been, and will not be, registered under the U.S. Securities Act of
1933, as amended (the "Securities
Act"), or under any relevant securities laws of any state of
the United States of America and are subject to U.S. tax law
requirements. Subject to certain exceptions, the Securities may not
be offered or sold directly or indirectly within the United States
or to, or for the account or benefit of, U.S. persons or to persons
within the United States of America, as such terms are defined in
Regulation S under the Securities Act. Any forwarding, distribution
or reproduction of the Programme Memorandum in whole or in part is prohibited. Failure to comply with this
notice may result in a violation of the Securities Act or the
applicable laws of other jurisdictions. There will be no public
offering of the Securities in the United States.
Your right to access this service is
conditional upon complying with the above requirements. In
particular, your accessing this service will constitute your
representation that you are not in the United States and you are
not a U.S. person within the meaning of Regulation S under the
Securities Act and the U.S. Internal Revenue Code and regulations
thereunder.
END
