TIDM58WT

RNS Number : 3049U

National Gas Transmission PLC

27 March 2023

National Gas Transmission plc

27 March 2023

Expected entry into Deed Poll granting additional rights to Bondholders

National Gas Transmission plc (the "Issuer") announced today the launch of a dual-tranche bond offering consisting of fixed rate Euro denominated bonds and fixed rate Sterling denominated bonds (together, the "Bonds").

At or around the time of pricing of the Bonds, the Issuer expects to enter into a deed poll (the "Deed Poll") in favour of the trustees for each outstanding series of the Issuer's bonds named therein (the "NGT Bonds") to commit to:

(i) adhering to a new capital markets negative pledge restriction with respect to incurring any new secured relevant indebtedness; and

(ii) providing the holders of NGT Bonds certain additional rights to require their NGT Bonds to be redeemed early by the Issuer in the event of revocation, transfer or surrender of the Issuer's gas transporter licence (as defined in the Deed Poll) and a consequential negative rating action or to trigger an event of default under the NGT Bonds if any other present or future indebtedness of the Issuer or any of its material subsidiaries becomes due and payable.

For further information, please contact:

   Anh Duong, Head of Treasury, Pensions and Insurance                  +44 (0) 7590 250 650

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March 27, 2023 04:18 ET (08:18 GMT)

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