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LONDON - Annington Funding PLC announced Monday that noteholders have approved an Extraordinary Resolution proposed by BNY Mellon (NYSE:BK) Corporate Trustee Services Limited at a meeting held today.
The resolution affects approximately £2.8 billion in outstanding notes across five different issuances with maturities ranging from 2029 to 2051. These include £600 million in 3.184% notes due July 2029, £400 million in 2.308% notes due October 2032, £625 million in 3.685% notes due July 2034, £760 million in 3.935% notes due July 2047, and £400 million in 2.924% notes due October 2051.
According to the company’s statement, the meeting achieved the necessary quorum and the Extraordinary Resolution received approval from the required number of noteholders. The notes were issued under Annington’s £5 billion Euro Medium Term Note Programme and are guaranteed by Annington Limited, Annington Property Limited, and Annington Homes Limited.
Annington Funding stated it "expects to engage in dialogue with the Trustee concerning the Extraordinary Resolution and the next steps contemplated by the Trust Deeds." The company did not disclose the specific content of the resolution in its announcement.
The Trustee will distribute notice of the meeting results to noteholders through clearing systems, according to the press release statement.
The notes were originally issued under trust deeds established in June 2017 and amended in September 2021.
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