TIDM85QW

RNS Number : 8746V

Broadgate Financing PLC

05 December 2019

COMPANY ANNOUNCEMENT

BROADGATE FINANCING PLC

(the Issuer)

(incorporated as a Public Limited Company in England and Wales with registered number 5316365)

Cass A2 4.949 per cent. Bonds due 2031 (ISIN:XS0211897664) (Class A2 Bonds)

Class A3 4.851 per cent Bonds due 2033 (ISIN: XS0211897821) (Class A3 Bonds)

Class A4 4.821 per cent. Bonds due 2036 (ISIN:XS0213092652) (Class A4 Bonds)

Class B 4.999 per cent. Bonds due 2033 (ISIN:XS0211898043) (Class B Bonds)

Class C2 5.098 per cent. Bonds due 2035 (ISIN: XS0211898126) (Class C2 Bonds)

NOTICE OF PARTIAL REDEMPTION OF CLASS A2 BONDS

Terms defined in the Master Definitions and Construction Schedule dated 2 March 2005 (as amended) bear the same meanings when used in this Notice.

The Issuer and the Borrower Security Trustee have received notice from the Borrower that it intends to prepay the Term A2 Loan in part in an amount equal to GBP60,000,000.00 on the Interest Payment Date which falls on 6 January 2020 (the "Relevant Interest Payment Date"). Under Condition 6.2(c) of the Bonds, if the Borrower elects to prepay a Term Loan then the Issuer must redeem in whole or in part the corresponding Class of Bonds in a pro tanto amount (in addition to the amounts redeemed pursuant to Condition 6.2(a)) and together with any applicable redemption premium payable pursuant to Condition 6.3(b).

Accordingly notice is hereby given that the Issuer will redeem the Class A2 Bonds in part on the Relevant Interest Payment Date in an aggregate principal amount of GBP59,999,940.00, at an amount of GBP1,144.24 in respect of each Class A2 bond, being GBP952.38 of principal and GBP191.86 of premium in respect of each Class A2 bond.

The redemption of principal in respect of the Class A2 Bonds will be in addition to the Bond Amortisation Amount of GBP47.07 in respect of each Class A2 Bond which falls due on the Relevant Interest Payment Date.

Payments of interest in respect of the Class A2 Bonds and payments of interest and principal in respect of the other Classes of Bonds which fall due on the Relevant Interest Payment Date will also be made on the Relevant Interest Payment Date.

Condition 6.3(c) of the Bonds provides, inter alia, that principal amounts prepaid (excluding for these purposes the Bond Amortisation Amounts paid on the Relevant Interest Payment Date) on the Class A2 Bonds shall be applied to reduce the remaining Bond Amortisation Amounts in respect of the Class A2 Bonds pro rata.

The new schedule of Bond Amortisation Amounts for the Class A2 Bonds for Interest Payment Dates falling after the Relevant Interest Payment Date is as follows:

Revised Bond Amortisation Amounts for the Class A2 Bonds

 
 Interest Payment Date    Amount (GBP) 
       falling in 
 April 2020               28.26 
                         ------------- 
 July 2020                28.68 
                         ------------- 
 October 2020             29.11 
                         ------------- 
 January 2021             29.55 
                         ------------- 
 April 2021               29.97 
                         ------------- 
 July 2021                30.42 
                         ------------- 
 October 2021             30.87 
                         ------------- 
 January 2022             31.32 
                         ------------- 
 April 2022               31.79 
                         ------------- 
 July 2022                32.27 
                         ------------- 
 October 2022             32.74 
                         ------------- 
 January 2023             33.23 
                         ------------- 
 April 2023               33.72 
                         ------------- 
 July 2023                34.23 
                         ------------- 
 October 2023             34.73 
                         ------------- 
 January 2024             35.25 
                         ------------- 
 April 2024               35.76 
                         ------------- 
 July 2024                36.29 
                         ------------- 
 October 2024             36.83 
                         ------------- 
 January 2025             37.38 
                         ------------- 
 April 2025               37.93 
                         ------------- 
 July 2025                38.50 
                         ------------- 
 October 2025             39.06 
                         ------------- 
 January 2026             39.64 
                         ------------- 
 April 2026               40.23 
                         ------------- 
 July 2026                40.83 
                         ------------- 
 October 2026             41.43 
                         ------------- 
 January 2027             42.04 
                         ------------- 
 April 2027               42.67 
                         ------------- 
 July 2027                43.30 
                         ------------- 
 October 2027             43.94 
                         ------------- 
 January 2028             44.59 
                         ------------- 
 April 2028               45.25 
                         ------------- 
 July 2028                45.92 
                         ------------- 
 October 2028             46.61 
                         ------------- 
 January 2029             47.30 
                         ------------- 
 April 2029               47.99 
                         -------------

Should you have any questions regarding this notice you may contact the Principal Paying Agent as follows:

PRINCIPAL PAYING AGENT

The Bank of New York Mellon

One Canada Square

Canary Wharf

London E14 5AL

This notice is given by the Issuer

05 December 2019

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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