Notice to Noteholders

Saltaire Finance PLC

21 December 2023

 

Issuer: Saltaire Finance plc

Date: 21 December 2023

SALTAIRE FINANCE PLC

(the "Issuer")

(incorporated with limited liability in England and Wales with registration number 12967182)

Expansion of the Affordable Homes Guarantee Scheme ("AHGS")

This announcement is released by Saltaire 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 20 December 2023 on behalf of Intertrust Directors 1 Limited as Director of Saltaire Finance plc.

Amended and restated concessionaire agreement

The Issuer is pleased to announce today the entry by Saltaire Housing Ltd, as the Concessionaire (as defined in the Programme Memorandum (as defined below)), and the Secretary of State for Housing, Communities and Local Government (the "Guarantor") into a concession agreement originally dated 16 October 2020 as amended and restated by an amendment and restatement agreement dated on or around the date of this announcement (the "ACA").

As part of the amendments to the AHGS and pursuant to the ACA, the range of delivery undertakings which may be eligible for funding will be broadened and the current rules of the scheme will be modified. In addition, the Guarantor has agreed to issue further debt capital guarantees in an aggregate principal amount not exceeding £6 billion. Saltaire Housing Ltd will continue to manage and deliver the AHGS as amended.

Bond programme

The Issuer notes that any consequential amendments to its £3,000,000,000 guaranteed secured bond programme, the subject of a programme memorandum issued by the Issuer on 9 June 2021 (the "Programme Memorandum"), will be the subject of a separate announcement to the extent required by applicable regulatory and other disclosure obligations.

For further information, please contact Venn Partners LLP (trading as ARA Venn).

Email: [e-mail] and [e-mail]

Tel: [phone]

DISCLAIMER - INTENDED ADDRESSEES

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 (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.

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