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Skipton Bldg.Soc. (72FP)


Friday 28 January, 2022

Skipton Bldg.Soc.

Change of statistical indices

RNS Number : 0349A
Skipton Building Society
28 January 2022





£400,000,000 Series 2018-1 Floating Rate Covered Bonds due 2023

Common Code: 181537949& ISIN: XS1815379497

(the Series 2018-1 Covered Bonds)


€500,000,000 Series 2018-2 0.50 per cent. Fixed Rate Covered Bonds due 2023

Common Code: 188733018 & ISIN: XS1887330188

(the Series 2018-2 Covered Bonds)


£600,000,000 Series 2019-1 Floating Rate Covered Bonds due 2024

Common Code: 196961305 & ISIN: XS1969613055

(the Series 2019-1 Covered Bonds)


€500,000,000 Series 2019-2 0.01 per cent. Fixed Rate Covered Bonds due 2024

Common Code: 2056376135 & ISIN: XS2056376135

(the Series 2019-2 Covered Bonds)


issued by the Issuer under the €7,500,000,000 Global Covered Bond Programme, unconditionally and irrevocably guaranteed as to payments of interest and principal by Skipton Covered Bonds LLP

(the Programme)


28 January 2022


Notice is given by the Issuer to the holders of the Series 2018-1 Covered Bonds, the Series 2018-2 Covered Bonds, the Series 2019-1 and the Series 2019-2 Covered Bonds that on 28 January 2022 (the Effective Date), the Issuer changed the statistical indices it uses to calculate the Indexed Valuation, and entered into the Amended and Restated Master Definitions and Construction Schedule, to make the following amendments:


(i)  The following definition has been amended as follows:

"Indexed Valuation" means at any date in relation to any Loan secured over any Property:

(a)  where the Latest Valuation of that Property is equal to or greater than the UK House Price Indexed Valuation as at that date, the UK House Price Indexed Valuation; or

(b)  where the Latest Valuation of that Property is less than the UK House Price Indexed Valuation, the Latest Valuation plus 85 per cent. of the difference between the Latest Valuation and the UK House Price Indexed Valuation;"


(ii)  The following definitions were added:

"Office for National Statistics" means the national statistical institute which produces the UK House Price Index in the United Kingdom'

"UK House Price Index" means the index of increases or decreases in house prices in relation to residential properties in the United Kingdom, as published by the Office for National Statistics;

"UK House Price Indexed Valuation" means, in relation to any Property, the Latest Valuation of that Property increased or decreased as appropriate by the increase or decrease in the UK House Price Index since the date of that Latest Valuation;"

(iii)  The definitions of "Halifax Index" and "Halifax Price Indexed Valuation" have been deleted.


These changes were effective on the Effective Date, and the agreements can be found at the following link:

Capitalised terms used but not defined in this Notice shall have the meanings given to them in the Prospectus dated 9 December 2021.


For further information, please contact:

Skipton Building Society

The Bailey, Skipton BD23 1DN

Telephone: 01756 705000


Email: [email protected] or Jeremy Helme: [email protected]  





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