Darrowby No. 1 plans to redeem £1.2 billion mortgage-backed floaters

By Tali Rackner

Norfolk, Va., Feb. 3 – Darrowby No. 1 plc plans to redeem three classes of its mortgage-backed floating-rate notes due 2043, according to a filing with the London Stock Exchange.

The following will be redeemed at par plus accrued interest on March 21:

• £295 million of class A1 notes due 2043;

• £737 million of class A2 notes due 2043; and

• £168 million of class B notes due 2043.

Darrowby No. 1 is based in the United Kingdom.

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