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LONDON - Lanark Master Issuer PLC announced today that it has amended its Issuer Bank Account Agreement and Bank Account Agreement following the resignation of National Australia Bank Limited as an account bank.
According to a notice to noteholders, National Australia Bank Limited resigned from its position as both Issuer Account Bank and Account Bank through a letter dated September 23, 2025. The amendments, which were completed on November 25, confirm Clydesdale Bank PLC will continue as the sole Issuer Account Bank and Account Bank.
The changes affect Lanark’s Residential Mortgage-Backed Note Issuance Programme, which includes four series of Class 1A Notes due in 2069 with a combined value of £2.75 billion. The affected notes include the £700 million Series 2022-1, £800 million Series 2022-2, £500 million Series 2023-1, and £750 million Series 2024-1 Class 1A Notes.
Lanark Master Issuer stated that copies of the amended and restated agreements will be available for inspection by noteholders at the specified offices of the Paying Agents and at the Issuer’s London office.
The company did not provide reasons for National Australia Bank’s resignation in the press release statement.
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