9 May 2022 08:28
9 May 2022
The Housing Finance Corporation Limited ("THFC)
Partial early redemption of £7,399,996 of 8.625% Debenture Stock 2023
ISIN: GB00BLF0LG43 ("Current ISIN")
To the holders of 8.625% Debenture Stock 2023 (the 'Stock') constituted and secured pursuant to a Trust Deed between THFC (1) and The Law Debenture Trust Corporation p.l.c. (2) dated 13 October 1993 and deeds supplemental thereto between the same parties (together the 'Trust Deed')
Following a Borrower's Optional Redemption, Stock with an Outstanding Principal Amount of £7,399,966 representing approximately 4.05% of the Stock in issue will be redeemed on 13 May 2022 in accordance with clause 4(F) of the Trust Deed at a price of £110.672 per £100 of the Outstanding Principal Amount of the Stock to be redeemed together with interest accrued but unpaid. This price has been calculated in accordance with condition 3(1) of the conditions applicable to the Stock and in accordance with the provisions of the Trust Deed.
Stockholder information
The redemption of 8.625% Debenture Stock 2023 (the "Redemption") will be effected pro rata to holdings of Stock on the register at the close of business on 13 May 2022 (the "Redemption Date").
Fractions of Stock produced by the Redemption ratio will not be redeemed and so the Outstanding Principal Amount of Stock to be redeemed from each stockholder will be rounded down to the nearest whole number.
THFC currently has £182,849,996 8.625% Debenture Stock in issue. All of the Stock redeemed on the Redemption Date will be cancelled.
Payments of redemption monies are expected to be effected either through CREST (in the case of Stock held in uncertificated form) or by cheque (in the case of Stock held in certificated form) on or around 24 May 2022. Any stock certificates for the balance of the holding will be distributed to stockholders on or around 23 May 2022. Original certificate(s) will have no further value and should be destroyed or returned to the Registrar, Link Group, 10th floor, Central Square, 29 Wellington Street, Leeds LS1 4DL, for destruction.
The Stock will be disabled in CREST on the Redemption Date and the Current ISIN number in respect of such Stock will expire. The new ISIN number GB00BMF37731 (the "New ISIN") in respect of the remaining Stock which has not been redeemed will be enabled and available for transactions from 16 May 2022. For the period up to and including the Redemption Date, Stock will be traded under the Current ISIN and as such, a purchaser of such Stock may have a market claim for a proportion of the redemption proceeds following the activation of the New ISIN. CREST will automatically transfer any open transactions as at the Redemption Date to the New ISIN.
LEI: 213800C5UBBTGH5RTF22
For further information, please contact:
THFC Details: | |
4th floor 107 Cannon Street London EC4N 5AF
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Telephone: +44 (0)207 337 9920 | |
Registrar Details: | |
Link Group 10th floor, Central Square, 29 Wellington Street, Leeds LS1 4DL | |
Telephone: +44 (0) 371 664 0321 | |
Calls to Link Group are charged at the standard geographic rate and will vary by provider. Calls outside the United Kingdom will be charged at the applicable international rate. The helpline is open between 9.00 am - 5.30 pm, Monday to Friday excluding public holidays in England and Wales. Please note that Link Group cannot provide any financial, legal or tax advice and calls may be recorded and monitored for security and training purposes. | |