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Norwich & P'boro BS (75VM)

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Monday 05 October, 2009

Norwich & P'boro BS

Amendments to Covered Bond Pr

RNS Number : 2549A
Norwich & Peterborough Building Soc
05 October 2009


Norwich and Peterborough Building Society 

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

unconditionally guaranteed as to payments of principal and interest by

Norwich and Peterborough Covered Bonds LLP (the 'Programme')

The Programme has been amended (i) to oblige Norwich and Peterborough Building Society to make a Cash Capital Contribution to pre-fund the amount required to pay the interest on the Covered Bonds on the immediately following Interest Payment Date under the Covered Bonds and ancillary amendments to reflect this; (ii) the Asset Pool will not consist of any Substitution Assets and the Cash Manager or the LLP will not purchase any Substitution Assets to be included into the Asset Pool; (iii) to require the establishment of a new bank account (the CB Collection Account) and all monies in the account are held for Norwich and Peterborough Building Society and Norwich and Peterborough Covered Bonds LLP; (iv) to require the appointment of a stand-by Cash Manager and ancillary changes as a result of such appointment; (v) to appoint a standby swap provider for certain swap arrangements entered into by Norwich and Peterborough Building Society; and (vi) to provide for automatic release from security of Loans repurchased by the Seller and the consideration for the repurchase being paid to the LLP and ancillary changes as a result of the automatic release. The automatic release only applies prior to the service of a Notice to Pay or perfection of the transfer of the Loans to the LLP.  

For further information, please contact

Norwich and Peterborough Building Society

Peterborough Business Park

Lynch Wood



Fax :           +44 (0)1733 372373

Attention:    The Company Secretary

Disclaimer - Intended Addressees

This is not for distribution in the United States. The securities described herein 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 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. There will be no public offering of the securities in the United States.

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