Housing Securities to redeem £22 million of 8 3/8% debenture stock

By Sarah Lizee

Olympia, Wash., March 6 – Housing Securities Ltd. plans to redeem £22 million of its 8 3/8% debenture stock due 2019 on March 30, according to a filing with the London Stock Exchange.

The debenture stock will be redeemed at 106.394152915% of the principal amount plus accrued interest for a total amount payable on redemption of £107.851680539 per £100 nominal amount.

The company said it received notice that one borrower, One Housing Group Ltd., intends to repay its loan from Housing Securities. Under the conditions of the stock, Housing Securities gave notice to stockholders that it would redeem a corresponding amount of stock.

Prudential Trustee Co. Ltd. is the trustee.

Housing Securities is a real estate owner and developer based in London.

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