Newcastle 125/8 Regulatory News (NBSR)

20 Jul 2009 16:08



Amendments to Covered Bond Programme

Newcastle Building Society

€2 billion Global Covered Bond Programme 

unconditionally guaranteed as to payment of principal and interest by 

Newcastle Building Society Covered Bonds Limited Liability Partnership (the "Programme")

The Programme has been amended (i) to oblige Newcastle to make a Cash Capital Contribution to pre-fund the interest amounts due on the Covered Bonds on the immediately following Interest Payment Date under the Covered Bonds, (ii) to require the appointment of a back-up Cash Manager upon a downgrade of the Cash Manager below certain specified levels; (iii) to require the appointment of a replacement Servicer upon a downgrade of the Servicer below certain specified levels and (iv) to appoint a standby swap provider for certain swap arrangements entered into by Newcastle in respect of the Programme.

For further information, please contact

Angela Russell, Group Risk Executive and Deputy Finance Director

Tel: 0191 2441593

E-mail: Angela.Russell@newcastle.co.uk

Newcastle Building SocietyPortland HouseNew Bridge StreetNewcastle upon Tyne NE1 8AL

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