LONDON - Skipton Building Society has announced the approval of a prospectus related to a significant €7.5 billion Global Covered Bond Programme, backed by Skipton Covered Bonds LLP. The prospectus, dated today, has been sanctioned by the Financial Conduct Authority and is now publicly accessible.
The programme is designed to offer covered bonds, which are securities backed by a pool of mortgages and carry a dual-recourse feature. This means investors have a claim against both the pool of loans and the issuer, providing an additional layer of security. The covered bonds are guaranteed for the payment of interest and principal, ensuring strong protection for bondholders.
In conjunction with the issuance of the prospectus, Skipton Building Society has also executed amendments to key transaction documents. Changes have been made to the Mortgage Sale Agreement and the Master Definitions and Construction Schedule. These amendments, effective as of today, pertain to certain insurance and loan warranty modifications within the programme.
The full prospectus and details of the amended agreements are available online, providing transparency for investors and stakeholders. These documents can be reviewed on the National Storage Mechanism website and Skipton Building Society's investor relations page.
The issuer, Skipton Building Society, is a well-established financial institution in the United Kingdom (TADAWUL:4280), with a significant presence in the mortgage and savings market. The society has provided contact details for further inquiries, emphasizing its commitment to maintaining open communication with investors.
It is important to note that the information contained in the prospectus is intended for residents of specific countries, as detailed within the document. The prospectus is not aimed at individuals outside of these jurisdictions or to anyone to whom the offer is not addressed. Potential investors are advised to confirm their eligibility before relying on the information provided.
This announcement is based on a press release statement and has been disseminated by RNS, the news service of the London Stock Exchange (LON:LSEG), which is authorized by the Financial Conduct Authority as a Primary Information Provider in the UK.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.