Clydesdale Bank PLC

Substitution of Issuer by Part VII Transfer

RNS Number : 5791Q
Clydesdale Bank PLC
21 October 2019
 

CLYDESDALE BANK PLC

(Company)

 

LEI: NHXOBHMY8K53VRC7MZ54

VIRGIN MONEY PLC

(Issuer)

 

LEI: 213800NISCV8CQI6LW27                    

 

21 October 2019

Substitution of Issuer by Part VII Transfer

On 26 September 2019, at a hearing in the Court of Session in Edinburgh, the Court approved a banking business transfer scheme under Part VII of the Financial Services and Markets Act 2000. The scheme effective date is today, 21 October 2019, and in accordance with the Court approval, on this date the business of the Issuer has been transferred to Clydesdale Bank PLC and Clydesdale Bank PLC has been substituted in place of Virgin Money plc as the Issuer and principal obligor of the following notes (together, the "Notes"):

·    £300,000,000 2.250 per cent. Notes due 21 April 2020 issued under the £3,000,000,000 Global Medium Term Note Programme (ISIN: XS1222597731);

·    Regulated £600,000,000 Series 1 Floating Rate Covered Bonds due March 2024 irrevocably and unconditionally guaranteed as to payment of principal and interest by Eagle Place Covered Bonds LLP issued under the €7 billion Global Covered Bond Programme (ISIN: XS1968589116); and

·    Regulated €600,000,000 Series 2 0.01 per cent. Fixed Rate Covered Bonds due September 2026 irrevocably and unconditionally guaranteed as to payment of principal and interest by Eagle Place Covered Bonds LLP issued under the €7 billion Global Covered Bond Programme (ISIN: XS2049803575).

The London Stock Exchange records will be updated to reflect the substitution with effect from 8am on 22 October 2019.

 

For further information, please contact:

 

Investors and Analysts       

Andrew Downey                    

Head of Investor Relations   

 

 

+44 20 3216 2694

+44 7823 443 150

[email protected]

 

Company Secretary

Lorna McMillan

Company Secretary     

 

 

 

+44 7834 585436

[email protected]

 

Media (UK)

Christina Kelly

Senior Media Relations Manager

 

Simon Hall

Media Relations Manager      

 

+44 7484 905358

 [email protected]

 

+44 7855 257081

[email protected]

 

 


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