LONDON - Clydesdale Bank PLC, operating under the Virgin Money (LON:VM) brand, has published a supplement to its base prospectus for its €10 billion Global Covered Bond Programme, as per an announcement on Friday. The supplement, dated January 24, 2025, relates to the initial prospectus dated December 5, 2024, and has been approved by the Financial Conduct Authority (FCA).
The covered bonds under this program are unconditionally and irrevocably guaranteed for both interest and principal payments by Eagle Place Covered Bonds LLP. This update to the bond program is a standard practice in the financial industry, ensuring that potential investors have access to the most current information regarding the financial instruments being offered.
The document is now available for public viewing and has been submitted to the National Storage Mechanism, making it accessible for inspection at the Financial Conduct Authority's dedicated storage mechanism online.
The bank has made it clear that this supplement should not be forwarded, distributed, or reproduced in any manner, except as permitted by law. It is also emphasized that the covered bonds have not been registered under the U.S. Securities Act of 1933, as amended, and are subject to certain restrictions on their distribution and transfer.
The issuance is targeted at specific investors, including qualified institutional buyers in the United States under Rule 144A and non-U.S. persons outside the United States in accordance with Regulation S under the Securities Act.
Clydesdale Bank's update to its bond program reflects the ongoing adjustments and disclosures that financial institutions must make to comply with regulatory requirements and to provide transparency to investors.
The bank's announcement was authorized for release by Lorna McMillan, Group Company Secretary. Potential investors and other interested parties can access the supplement through the London Stock Exchange (LON:LSEG)'s news service RNS, which is approved by the FCA to act as a Primary Information Provider in the UK. This news article is based on a press release statement.
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