Change of Index on Notes due

RNS Number : 4356Q

Pennon Group PLC

09 April 2009

 



 9 April 2009

PENNON GROUP PLC

notification of CHANGE OF INDEX TO BE USED IN RESPECT OF THE GBP 100,000,000 Index Linked Notes due 2022 linked to the DBFRB USD Index which are renamed gbP 100,000,000 index linked notes due 2022 linked to the db trends usd index (isin: xs0311717929)

Pennon Group Plc announces with effect from 7 April 2009 (the Amendment Date) the following changes to its GBP 100,000,000 Index Linked Notes due 2022 linked to the DBFRB USD Index (ISIN: XS0311717929) (the Notes):

• the Notes shall be linked to the DB Trends USD Index, and the Notes shall be renamed 'GBP 100,000,000 Index Linked Notes due 2022 linked to the DB Trends USD Index'; and

• the interest rate in respect of the Notes will remain at 6 per cent. per annum until 13 July 2010, but thereafter will be linked to the DB Trends USD Index (Bloomberg: DBTRDUSD Index) calculated as follows:

6.75 per cent. - 85 per cent. x ((index level on the relevant calculation date/128.2112)-1), subject to a minimum of zero per cent. and a maximum of 6.75 per cent., all as more fully described in the supplemental trust deed executed in respect of such amendments on the Amendment Date.

All other terms of the Notes including the calculation and payment dates remain unchanged.

For further information please contact Tony Hooper, Group Treasurer, Pennon Group Plc, on [phone] or mobile [phone].

www.pennon-group.co.uk

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