Business
Consent Solicitation
Consent Solicitation.
About this update from Nationwide Building Society
[{"type":"text","content":"\n \nRNS Number : 9012C Nationwide Building Society 25 January 2018 \n\n \n \nNationwide Building Society\n(incorporated in England under the Building Societies Act 1986, as amended)\nannounces a consent solicitation and proposal to all holders (the Noteholders) of its outstanding\n€750,000,000 6.75 per cent. Subordinated Notes due 22 July 2020 (the Notes)\n25 January 2018. Nationwide Building Society (the Society) announces an invitation (the Consent Solicitation) to holders of the Notes to consent to the modification of the terms and conditions of the Notes (the Conditions) and the Trust Deed constituting the Notes, as proposed by the Society (the Proposal) for approval by an extraordinary resolution (an Extraordinary Resolution) at a meeting of the Noteholders (the Meeting), all as further described in the Consent Solicitation Memorandum prepared by the Society dated 25 January 2018 (the Consent Solicitation Memorandum).\nThe Consent Solicitation and the Proposal are being made on the terms and subject to the conditions contained in the Consent Solicitation Memorandum. This announcement should be read in conjunction with the Consent Solicitation Memorandum. Capitalised terms used but not otherwise defined in this announcement have the meanings given in the Consent Solicitation Memorandum.\n\n\n\n\nISIN / \nCommon Code\n\n\nOutstanding Nominal Amount\n\n\nEarly Consent Fee\n\n\nConsent Fee\n\n\n\n\nXS0527239221 / 052723922\n\n\n€750,000,000\n\n\n0.20 per cent. of the nominal amount of the Notes\n\n\n0.10 per cent. of the nominal amount of the Notes\n\n\n\n\nThe Proposal\nThe Society is inviting Noteholders to approve, by an Extraordinary Resolution pursuant to the Conditions and the Meeting Provisions, certain amendments to the Conditions and the Trust Deed, all as more fully described in the notice convening the Meeting (the Notice) and the Supplemental Trust Deed.\nRationale for the Proposal\nThe purpose of the Proposal is to align the status provisions in the Conditions and the Trust Deed relating to the Notes with those contained in the terms and conditions of the Society's most recently issued subordinated notes.\nGeneral\nThe information set out above is a summary only. The full description of the amendments to be made to the Conditions and the Trust Deed are set out in full in the Notice and the Su...