LONDON - Saltaire Finance PLC has announced the sale of £60 million in principal amount of its 4.809% Guaranteed Secured Bonds due 2053, under its £6 billion Guaranteed Secured Bond Programme. The bonds, which are unconditionally and irrevocably guaranteed by the UK's Secretary of State for Housing, Communities and Local Government, were sold today as part of the company's efforts to manage its bond portfolio.
The bonds that were sold are part of the "Retained Bonds," a term detailed in the Programme Memorandum dated March 13, 2024, and further supplemented by the Pricing Supplement dated October 16, 2024. The sale of these bonds reduces the number of Retained Bonds held by the issuer, which now stands at £20 million.
With this transaction, the aggregate outstanding principal amount of bonds issued under the Programme has been adjusted to £495 million. The Programme itself was established for the issuance of bonds that are guaranteed by a government secretary, a factor that might be appealing to investors seeking secured investment options.
This financial move aligns with Saltaire Finance PLC's strategic management of its bond program and follows the regulatory guidelines as set out by the Market Abuse Regulation (EU) 596/2014, which has been incorporated into UK law following the European Union (Withdrawal) Act 2018.
The announcement was made by Helena Whitaker of CSC Directors (No.3) Limited, acting on behalf of Saltaire Finance PLC. Investors and market watchers are provided with this information in accordance with the UK Market Abuse Regulation (UK MAR) and the Commission Implementing Regulation (EU) 2016/1055, ensuring transparency and regulatory compliance.
This news comes as a factual statement based on a press release issued by Saltaire Finance PLC, and it reflects the company's latest financial activities within its secured bond market operations.
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