Amendments to Covered Bond Programme
20 Juillet 2009 - 5:08PM
UK Regulatory
TIDMNBSR
RNS Number : 9734V
Newcastle Building Society
20 July 2009
Amendments to Covered Bond Programme
Newcastle Building Society
EUR2 billion Global Covered Bond Programme
unconditionally guaranteed as to payment of principal and interest by
Newcastle Building Society Covered Bonds Limited Liability Partnership (the
"Programme")
The Programme has been amended (i) to oblige Newcastle to make a Cash Capital
Contribution to pre-fund the interest amounts due on the Covered Bonds on the
immediately following Interest Payment Date under the Covered Bonds, (ii) to
require the appointment of a back-up Cash Manager upon a downgrade of the Cash
Manager below certain specified levels; (iii) to require the appointment of a
replacement Servicer upon a downgrade of the Servicer below certain specified
levels and (iv) to appoint a standby swap provider for certain swap arrangements
entered into by Newcastle in respect of the Programme.
For further information, please contact
Angela Russell, Group Risk Executive and Deputy Finance Director
Tel:0191 2441593
E-mail:Angela.Russell@newcastle.co.uk
Newcastle Building Society
Portland House
New Bridge Street
Newcastle upon
Tyne NE1 8AL
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END
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