Last checked at 2 Mar 2022 11:48
2 March 2022
NOTICE OF ISSUER MATURITY PAR CALL
British Telecommunications public limited company
(LEI: 549300OWFMSO9NYV4H90)
EUR 575,000,000 0.500 per cent Notes due 23 June 2022 (the "2022 Notes")
(ISIN: XS1637332856)
issued under its Euro Medium Term Note Programme
NOTICE IS HEREBY GIVEN by British Telecommunications public limited company (the "Issuer") that the 2022 Notes will be fully redeemed by the Issuer on 25 March 2022 (the "Redemption Date"), in accordance with Condition 6.4 (Redemption at the option of the Issuer (Issuer Maturity Par Call)) of the Terms and Conditions of the 2022 Notes. The 2022 Notes will be redeemed on the Redemption Date at a price equal to their Final Redemption Amount as set out in the Final Terms document relating to the 2022 Notes, being EUR 1,000 per Calculation Amount of EUR 1,000, plus accrued but unpaid interest from, and including, 23 June 2021 to, but excluding, the Redemption Date (the "Redemption Price"). Payment of the Redemption Price will be made on the Redemption Date through Euroclear Bank SA/NV and Clearstream Banking S.A. Accordingly, any interest in respect of the 2022 Notes shall cease to accrue on and after the Redemption Date. The listing of the 2022 Notes on the Financial Conduct Authority's Official List and the admission of the 2022 Notes to trading on the London Stock Exchanges main market will be cancelled on, or around, 31 March 2022.
NOTICE OF ISSUER CALL
British Telecommunications public limited company
(LEI: 549300OWFMSO9NYV4H90)
EUR 1,100,000,000 1.125 per cent Notes due 10 March 2023 (the "2023 Notes")
(ISIN: XS1377681272)
issued under its Euro Medium Term Note Programme
NOTICE IS HEREBY GIVEN by British Telecommunications public limited company (the "Issuer") that the 2023 Notes will be fully redeemed by the Issuer on 25 March 2022 (the "Optional Redemption Date"), in accordance with Condition 6.3 (Redemption at the option of the Issuer (Issuer Call)) of the terms and conditions of the 2023 Notes (the "Conditions"). The 2023 Notes will be redeemed on the Optional Redemption Date at the Make-Whole Amount calculated by Citibank, N.A., London Branch (the "Calculation Agent") as set out in the Final Terms document relating to the 2023 Notes and Condition 6.3 of the Conditions (the "Optional Redemption Amount").
The Calculation Agent has today, the Reference Date of 2 March 2022, determined in accordance with the terms and conditions of the 2023 Notes that the Make-Whole Amount in respect of the 2023 Notes is EUR 1,015.54 per Calculation Amount of EUR 1,000.
Payment of the Optional Redemption Amount, together with interest accrued from, and including, 10 March 2022 to, but excluding, the Optional Redemption Date, will be made on the Optional Redemption Date through Euroclear Bank SA/NV and Clearstream Banking S.A. Accordingly, any interest in respect of the 2023 Notes shall cease to accrue on and after the Optional Redemption Date. The listing of the 2023 Notes on the Financial Conduct Authority's Official List and the admission of the 2023 Notes to trading on the London Stock Exchanges main market will be cancelled on, or around, 31 March 2022.
Terms used in this notice and not defined herein shall have the same meaning given to them in the Conditions.
Further information
The Issuer has exercised its call options to redeem the 2022 Notes and 2023 Notes as part of its liquidity and balance sheet management. The redemptions will be funded by existing cash resources. Following redemption the Issuer will have no debt securities maturing in its Fiscal Year ending 31 March 2023.
Questions regarding this Notice of Issuer Maturity Par Call and/or this Notice of Issuer Call should be directed to the Issuer at:
British Telecommunications public limited company
1 Braham Street
London E1 8EE
For the attention of: Andrew Binnie (Group Treasury Director)
This announcement is released by British Telecommunications public limited company and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). For the purposes of the UK MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018, this announcement is made by Andrew Binnie, Group Treasury Director of British Telecommunications public limited company.