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Lanark Master launches consent bids to amend three series of notes
By Sarah Lizee
Olympia, Wash., Jan. 7 – Lanark Master Issuer plc announced consent solicitations to amend three series of its notes, according to a notice.
Notes covered by the consent bids include the issuer’s £800 million series 2017-1 class 2A notes due 2069, £285 million series 2018-1 class 2A notes due 2069 and £250 million series 2018-2 class 2A notes due 2069.
The issuer said it is seeking to replace the existing Libor interest basis of the notes with a compounded daily Sonia interest basis.
The current interest rates for the notes are Libor plus 55 basis points for the series 2017-1 notes, Libor plus 42 bps for the series 2018-1 notes and Libor plus 52 bps for the 2018-2 notes.
The voting deadline is 11 a.m. ET on Jan. 24.
Meetings for holders of each series of notes will be held on Jan. 29.
No consent fee will be paid in connection with the amendments.
Citigroup Global Markets Ltd. (+44 20 7986 8969 or liabilitymanagement.europe@citi.com) is the solicitation agent.
Lanark Master Issuer is a London-based debt-issuing vehicle.
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