Deferral of Maturity Date

RCB Bonds PLC

26 June 2026

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

DEFERRAL OF MATURITY DATE FOR RCB BONDS PLC'S OUTSTANDING 4.25 PER CENT. BONDS DUE 6 JULY 2026 (ISIN: XS1634535253)

On 6 July 2017 RCB Bonds plc (the "Issuer") issued £45,000,000 4.25% bonds (the "Bonds") secured on a loan (the "Loan") to Dolphin Square Charitable Foundation (the "Charity") with an expected maturity date of 6 July 2026 (the "Expected Maturity Date").

The Issuer has been notified by the Charity that, while it has been making arrangements to refinance the Loan, it currently does not expect such arrangements to be completed by the Expected Maturity Date. As a result, the Charity has elected to defer in full repayment of the outstanding balance of the Loan until 6 July 2028 in accordance with the terms of the loan agreement dated 6 July 2017. Accordingly, redemption of the Bonds shall not occur on the Expected Maturity Date but instead shall be deferred in accordance with Condition 10.3 of the Bonds until 6 July 2028, subject to any purchase and cancellation or early redemption. Following such deferral, the rate of interest on the Bonds shall be adjusted to 5.25 per cent. per annum in accordance with Condition 8.4 of the Bonds.

The Charity has acknowledged that such deferral may cause inconvenience for holders of the Bonds and, subject to completion of its refinancing, its current intention is to make an offer to repurchase the Bonds at a purchase price of 100 per cent. as soon as reasonably practicable.

This announcement is released by RCB Bonds PLC and contains inside information for the purposes of Article 7 of the Market Abuse Regulation. The person responsible for arranging the release of this announcement on behalf of the Issuer is John Tattersall, Chair, RCB Bonds PLC.

 

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