Yorkshire Water Services FinanceLtd Result of Bondholder Meeting (0504S)
20 Junho 2018 - 12:40PM
UK Regulatory
TIDM84VF
RNS Number : 0504S
Yorkshire Water Services FinanceLtd
20 June 2018
YORKSHIRE WATER SERVICES FINANCE LIMITED ANNOUNCES THE RESULTS
OF A MEETING IN RELATION TO EACH SERIES OF BONDS SET OUT IN THE
SCHEDULE TO THIS NOTICE (TOGETHER, THE "BONDS")
20 June 2018
Yorkshire Water Services Finance Limited (the "Issuer")
announces today the results of a meeting convened for holders (the
"Holders") of the Bonds to vote in respect of the Extraordinary
Resolutions to, among other things, approve the Proposals and to
assent to and authorise the Bond Trustee to vote in favour of the
STID Proposal in accordance with the terms of the STID, vote in
favour of the entry by the Security Trustee or Bond Trustee into
the relevant documentation including, in respect of the STID
Proposal, amended and restated forms of the Finance Documents,
authorise the Bond Trustee to approve the relevant Substitution
Proposal and vote in favour of the entry by the Bond Trustee or
Security Trustee into the relevant documentation in respect of and
to effect such Substitution Proposal, each as set out in the
Solicitation Memorandum dated 29 May 2018 (the "Solicitation
Memorandum").
Capitalised terms used but not defined in this announcement have
the same meaning given to them in the Solicitation Memorandum.
Notice is hereby given to the Holders of the Bonds that at a
meeting of the Holders convened by the notice dated 29 May 2018
(the "Notice of Meeting") and held at the offices of Linklaters
LLP, One Silk Street, London EC2Y 8HQ on 20 June 2018 at 12:00 p.m.
(London time), the necessary quorum was achieved (with 66.87 per
cent. of the aggregate principal amount outstanding being
represented) and the First Extraordinary Resolution detailed in the
Notice of Meeting previously notified to the Holders in accordance
with the terms of the relevant Bond Trust Deed (as defined in the
Notice of Meeting) for the Bonds was not duly passed (with only
50.53 per cent. of votes being cast in favour).
Further, notice is hereby given to the Holders of the Bonds that
at the same meeting, the Second Extraordinary Resolution detailed
in the Notice of Meeting previously notified to the Holders in
accordance with the terms of the relevant Bond Trust Deed (as
defined in the Notice of Meeting) for the Bonds was not duly passed
(with only 50.53 per cent. of votes being cast in favour).
Given that the Second Extraordinary Resolution has not passed,
the substitution of the Issuer will not proceed. As a result, the
Instruction Fee will not be paid to Holders of the Bonds and
Holders of the Bonds will shortly receive confirmations that their
Bonds have been unblocked in the applicable clearing system.
This notice is given by:
YORKSHIRE WATER SERVICES FINANCE LIMITED
in its capacity as Issuer
20 June 2018
Legal Entity Identifier number: 213800SPVHJCCUH13862
Schedule
1. GBP200,000,000 5.50 per cent. Guaranteed Bonds due 2037
(XS0302054050) (guaranteed by Yorkshire Water Services Limited,
Yorkshire Water Services Holdings Limited, Yorkshire Water Services
Odsal Finance Limited, Yorkshire Water Services Bradford Finance
Limited and Yorkshire Water Services Odsal Finance Holdings
Limited)
2. GBP65,000,000 1.8225 per cent. Guaranteed Retail Price
Index-Linked Bonds due 2050 (XS0304850927) (guaranteed by Yorkshire
Water Services Limited, Yorkshire Water Services Holdings Limited,
Yorkshire Water Services Odsal Finance Limited, Yorkshire Water
Services Bradford Finance Limited and Yorkshire Water Services
Odsal Finance Holdings Limited)
3. GBP125,000,000 1.462 per cent. Guaranteed Retail Price
Index-Linked Bonds due 2051 (XS0275930203) (guaranteed by Yorkshire
Water Services Limited, Yorkshire Water Services Holdings Limited,
Yorkshire Water Services Odsal Finance Limited, Yorkshire Water
Services Bradford Finance Limited and Yorkshire Water Services
Odsal Finance Holdings Limited)
4. GBP85,000,000 1.75756 per cent. Guaranteed Retail Price
Index-Linked Bonds due 2054 (XS0302790000) (guaranteed by Yorkshire
Water Services Limited, Yorkshire Water Services Holdings Limited,
Yorkshire Water Services Odsal Finance Limited, Yorkshire Water
Services Bradford Finance Limited and Yorkshire Water Services
Odsal Finance Holdings Limited)
5. GBP125,000,000 1.46 per cent. Guaranteed Retail Price
Index-Linked Bonds due 2056 (XS0275222114) (guaranteed by Yorkshire
Water Services Limited, Yorkshire Water Services Holdings Limited,
Yorkshire Water Services Odsal Finance Limited, Yorkshire Water
Services Bradford Finance Limited and Yorkshire Water Services
Odsal Finance Holdings Limited)
6. GBP100,000,000 1.7085 per cent. Guaranteed Retail Price
Index-Linked Bonds due 2058 (XS0305261553) (guaranteed by Yorkshire
Water Services Limited, Yorkshire Water Services Holdings Limited,
Yorkshire Water Services Odsal Finance Limited, Yorkshire Water
Services Bradford Finance Limited and Yorkshire Water Services
Odsal Finance Holdings Limited)
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
ROMPGURWQUPRGAU
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