CTRL Section 1 Finance PLC Statement re Administrator and Account Bank (5107K)
January 04 2021 - 12:20PM
UK Regulatory
TIDM39TQ
RNS Number : 5107K
CTRL Section 1 Finance PLC
04 January 2021
THIS NOTICE CONTAINS IMPORTANT INFORMATION OF INTEREST TO THE
BENEFICIAL OWNERS OF THE NOTES. IF APPLICABLE, ALL DEPOSITARIES,
CUSTODIANS AND OTHER INTERMEDIARIES RECEIVING THIS NOTICE ARE
REQUESTED TO PASS THIS NOTICE TO SUCH BENEFICIAL OWNERS IN A TIMELY
MANNER.
THIS NOTICE IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION.
IF YOU ARE IN ANY DOUBT ABOUT THE ACTION YOU SHOULD TAKE, YOU
SHOULD IMMEDIATELY CONSULT YOUR STOCKBROKER, BANK MANAGER,
SOLICITOR, ACCOUNTANT OR OTHER PROFESSIONAL ADVISER AUTHORISED
UNDER THE FINANCIAL SERVICES AND MARKETS ACT 2000 (IF YOU ARE IN
THE UNITED KINGDOM) OR ANOTHER APPROPRIATELY AUTHORISED INDEPENDENT
FINANCIAL ADVISER (IF YOU ARE NOT).
IF YOU HAVE RECENTLY SOLD OR OTHERWISE TRANSFERRED YOUR ENTIRE
HOLDING(S) OF NOTES REFERRED TO BELOW, YOU SHOULD IMMEDIATELY
FORWARD THIS DOCUMENT TO THE PURCHASER OR TRANSFEREE OR TO THE
STOCKBROKER, BANK OR OTHER AGENT THROUGH WHOM THE SALE OR TRANSFER
WAS EFFECTED FOR TRANSMISSION TO THE PURCHASER OR TRANSFEREE.
NOTICE
to the holders of the outstanding
GBP747,989,000 Class A1 5.234% Fixed Rate Notes due 2035 (ISIN:
XS0179947196)
GBP500,000,000 Class A2 2.334% Index-Linked Notes due 2051
(ISIN: XS0179947352)
(together, the "Notes")
issued by CTRL SECTION 1 FINANCE PLC
(incorporated with limited liability in England and Wales with
registered number 04868980)
(the "Issuer")
on 7 November 2003
Unless the context otherwise requires, capitalised terms used
but not defined in this Notice shall have the meanings given in the
offering circular dated 7 November 2003 in relation to the
Notes.
NOTICE IS HEREBY GIVEN to the Noteholders that following a
resignation by Wells Fargo Bank, National Association (the
"Resigning Administrator") and Wells Fargo Bank, N.A., London
Branch (the "Resigning Account Bank") in respect of their roles as
Administrator and Account Bank respectively, the appointment of the
Resigning Administrator and the Resigning Account Bank in their
respective roles have been terminated on 4 January 2021 (the
"Effective Date"). As of the Effective Date, HSBC Bank PLC ("HSBC")
has been appointed as successor Account Bank and successor
Administrator pursuant to a deed of resignation and appointment
between, among others, the Issuer and the Security Trustee and
dated the Effective Date (the "Deed of Resignation and
Appointment").
In order to affect the aforementioned appointments, on the
Effective Date, HSBC has entered into:
(a) a replacement Administration and Cash Flow Management
Agreement with the Issuer, the Security Trustee and the Secretary
of State pursuant to which it agrees to perform, discharge and
observe all obligations, duties and liabilities as the
Administrator for the purposes of the Transaction Documents;
and
(b) a replacement Account Bank Agreement with the Issuer and the
Security Trustee pursuant to which it agrees to perform, discharge
and observe all obligations, duties and liabilities as the Account
Bank for the purposes of the Transaction Documents.
Pursuant the Deed of Resignation and Appointment, HSBC has
agreed to assume the obligations of the Resigning Administrator and
Resigning Account Bank in respect of certain Transaction Documents
as if it were the Account Bank and Administrator.
This Notice is given by:
CTRL SECTION 1 FINANCE PLC
as Issuer
Date: 4 January 2021
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END
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