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Inspired Education will hold noteholder meeting to replace guarantor
Chicago, Dec. 21 – Inspired Education (South Lanarkshire) plc is seeking consents to replace the guarantor for its £183,623,360 outstanding 2.0854% guaranteed secured index-linked bonds due 2038 (ISIN: XS0257433853), according to a press release.
The original issue size was £352.25 million.
Inspired Education wants to substitute Assured Guaranty Municipal Corp. and Assured Guaranty UK Ltd. as guarantors for Syncora Guarantee Inc., the original guarantor.
The bondholder meeting will be held via teleconference at 4:30 a.m. ET on Jan. 13.
Bondholders who wish to be represented at the meeting should instruct the tabulation agent by 11:30 a.m. ET on Jan. 10.
Meeting results will be announced on Jan. 14.
If the extraordinary resolution is passed, the execution of amendment documentation should occur within five business days.
Bank of New York Mellon is the tabulation agent (+44 1202 689644, debtrestructuring@bnymellon.com).
The issuer is a special purpose entity for issuing debt securities based out of Bristol.
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