Perpetuated Subordinated Bond
2007年5月11日 - 9:48PM
RNSを含む英国規制内ニュース (英語)
RNS Number:4609W
Cheltenham & Gloucester PLC
11 May 2007
Cheltenham & Gloucester plc 11.75% Perpetual Subordinated Bonds
Lloyds TSB Bank plc ("Lloyds TSB") and Cheltenham & Gloucester plc ("C&G")
announced today that they are currently considering arrangements under which,
pursuant to a banking business transfer scheme to be proposed under Part VII of
the Financial Services and Markets Act 2000, the banking business of C&G,
including the savings and mortgage balances of C&G, together with related rights
and liabilities, would be transferred to Lloyds TSB. It is proposed that the
11.75% Perpetual Subordinated Bonds of C&G (the "Bonds") would be transferred
under the scheme, and accordingly the Bonds would become, upon the transfer
becoming effective, subordinated bonds of Lloyds TSB. Lloyds TSB would
thereafter be liable for all future payments of principal and interest under the
Bonds to the holders thereof and would, as issuer thereunder, comply with all
the terms and conditions of the Bonds. The rights of each holder of Bonds would
thereafter be exercisable against Lloyds TSB and not C&G, but would otherwise
remain the same.
If effected, the proposed transfer would take place later in 2007. The proposal
would be subject to, among other things, court approval of the scheme.
This information is provided by RNS
The company news service from the London Stock Exchange
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