Settlement and Bond Commutation Announcement

Summary by AI ^BETAClose X

Healthcare Support (Newcastle) Finance Plc announced a Bond Commutation transaction effective August 20, 2025, involving the company and its associated entities. Syncora Guarantee Inc.'s guarantee on the index-linked secured bonds was terminated, releasing them from related obligations. Simultaneously, the coupon payable on these bonds increased from 2.1870% to 2.3495%. On the same date, Project Co entered a settlement transaction with several parties, including the Newcastle Upon Tyne Hospitals NHS Foundation Trust, Mitie FM Limited, and Laing O'Rourke Delivery Limited, to settle historical claims. Amendments were agreed upon for the Project Agreement and Service Contract, both initially entered on May 4, 2005. Additionally, Project Co's Majority Creditors agreed to waive several Events of Default and Trigger Events related to the project's financing agreements.

Disclaimer*

Healthcare Support(Newcastle)FinPLC

09 September 2025

RNS Announcement

Healthcare Support (Newcastle) Finance Plc

9 September 2025

Newcastle Hospitals PFI Project (the Project)

Settlement and Bond Commutation Announcement

Healthcare Support (Newcastle) Finance Plc (the Company) announces that:

1. The Company and its associated companies Healthcare Support (Newcastle) Limited (Project Co) and Healthcare Support (Newcastle) Holdings Limited entered into a Bond Commutation transaction with their senior creditors on 20 August 2025 whereby:

(a) the guarantee provided by Syncora Guarantee Inc (as successor to XL Capital Assurance (U.K.) Limited and XL Capital Assurance Inc.) in respect of the index-linked secured bonds issued by the Company was terminated and Syncora Guarantee Inc was released from certain of its related obligations under financing agreements related to the Project; and

(b) the coupon payable on the index-linked secure bonds issued by the Company was increased from 2.1870% to 2.3495%; and

2. Project Co entered into a settlement transaction with (inter alia) the Newcastle Upon Tyne Hospitals NHS Foundation Trust (the Trust), Mitie FM Limited (Mitie) and Laing O'Rourke Delivery Limited on 20 August 2025 whereby:

(a) the parties agreed to settle certain historical claims between them;

(b) Project Co and the Trust agreed to effect certain amendments to the terms of the Project Agreement entered into by them on 4 May 2005 in connection with the Project;

(c) Project Co and Mitie agreed to effect certain amendments to the terms of the Service Contract entered into by them on 4 May 2005 in connection with the Project; and

(d) Project Co's Majority Creditors agreed a waive a number of Events of Default and Trigger Events subsisting for the purposes of the financing agreements related to the Project.

For further information please contact:

Healthcare Support (Newcastle) Finance Plc

1 Park Row

Leeds,

United Kingdom

LS1 5AB

Kieron Clegg (Manager's representative)

kieron.clegg@resolis.com

07572 174 261

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