EU and US could reach trade deal this weekend - Reuters
LONDON - NGG Finance PLC has announced its decision to redeem £1,000,000,000 Fixed Rate Resettable Capital Securities due 2073 on June 18, 2025. The securities, identified by ISIN XS0903532090 and Common Code 090353209, will be redeemed at their principal amount along with any accrued and unpaid interest, including any deferred interest, up to but excluding the redemption date.
The company has exercised its right under Condition 7(b) (Issuer’s Call Option) of the securities to carry out this early redemption. Following the redemption, NGG Finance also intends to cancel the listing of these securities on the Official List of the Financial Conduct Authority and from trading on the Main Market of the London Stock Exchange (LON:LSEG) plc.
This move by NGG Finance PLC is considered inside information as per the Market Abuse Regulation (EU) 596/2014 as it is part of United Kingdom (TADAWUL:4280) domestic law. The information is disclosed in compliance with the company’s obligations under the regulation.
Holders of the outstanding securities are to receive notice of this decision today, with the redemption set to occur a little over a month from now. The terms used in the announcement are defined according to the Terms and Conditions of the Securities.
The announcement is based on a press release statement from NGG Finance PLC.
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