Updates to Covered Bond programme re: Libor

RNS Number : 3406A

Coventry Building Society

28 September 2020

 

COVENTRY BUILDING SOCIETY

€7,000,000,000 Global Covered Bond Programme

unconditionally and irrevocably guaranteed as to payments of interest and principal by

Coventry Building Society Covered Bonds LLP

(a limited liability partnership incorporated in England and Wales)

(the Programme)

Transition of the Programme from LIBOR to SONIA

Certain amendments have been made to the Programme to accommodate the phasing out of LIBOR by December 2021 and the transition of the Programme to a SONIA benchmark. The Cash Management Agreement, Interest Rate Swap Agreement, Master Definitions and Construction Agreement, Mortgage Sale Agreement and Servicing Agreement (together, the Amended Transaction Documents) have all been amended and restated by the parties thereto in order to incorporate such amendments.

Copies of the Amended Transaction Documents are available for inspection will be available for inspection during normal business hours at the registered office for the time being of the Bond Trustee being at the Programme Date at 8 Canada Square, London E14 5HQ and at the specified office of each of the Paying Agents or can be viewed online at https://www.coventrybuildingsociety.co.uk/consumer/our-performance/treasury-services/covered-bonds.htm l in due course.

For further information, please contact

Thomas Crane

General Counsel and Secretary

Coventry Building Society

Telephone: [phone]

DISCLAIMER - INTENDED ADDRESSEES

This announcement is a communication to the market. Nothing in this announcement constitutes an offer of securities for sale in the United States or any other jurisdiction. This announcement does not constitute a prospectus or a prospectus equivalent document.

This announcement has been delivered to you on the basis that you are a person into whose possession this announcement may be lawfully delivered in accordance with the laws of the jurisdiction in which you are located and you may not, nor are you authorised to, deliver this announcement to any other person. The distribution of this announcement in jurisdictions other than the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe, such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities laws of any such jurisdiction.

Likewise, the information contained in the offering circular relating to the Programme (the Offering Circular) may be addressed to and/or targeted at persons who are residents of particular countries specified in the Offering Circular only and is not intended for use and should not be relied upon by any person outside these countries and/or to whom the offer contained in the Offering Circular is not addressed. Prior to relying on the information contained in the Circular you must ascertain from the Prospectus whether or not you are part of the intended addressees of the information contained therein.

Your right to access this service is conditional upon complying with the above requirement.

Legal Entity Identifier

Coventry Building Society - 2138004G59FXEAZ6IO10

 

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