LONDON - Investec (LON:INVP) Bank PLC has announced the redemption of SEK 20 million and SEK 10 million fixed rate credit linked notes, both due in 2027, under its £2 billion Impala Bonds Programme. The redemption follows the receipt of a CDS Event Notice, prompting the bank to exercise its option to redeem the notes today.
The notes, identified by ISINs XS2148047942 and XS2161024794, will be redeemed at the CDS Event Redemption Amount. This includes accrued interest up to the Interest Accrual Cessation Date, comprising the Total (EPA:TTEF) Redemption Amount. With this payment, the notes will be fully redeemed and cancelled, and the bank will have no further obligations to the note holders.
The redemption process is in line with the Additional Term 4(c) of the notes, which outlines redemption and settlement procedures following the delivery of a CDS Event Notice. This clause is part of the terms and conditions set forth in the trust deed dated July 17, 2019, between Investec Bank PLC and Deutsche Trustee Company Limited as trustee.
The early redemption of these financial instruments concludes the obligations of Investec Bank PLC to the holders of these particular series of notes. This action is a financial maneuver within the scope of the bank's broader Impala Bonds Programme, which encompasses various debt issuance activities.
This information is based on a press release statement from Investec Bank PLC.
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