Virgin Money Announces Implementation of Tier 2 Notes Proposals
Why we think this is neutral
This RNS announcement provides an update on the implementation of proposals related to Virgin Money's Tier 2 Notes. As it does not contain any of the mandatory news types, such as trading updates, results, or financing details, the sentiment is assessed as neutral.
Key Points
- Supplemental Trust Deed, Supplemental Agency Agreement, and Amended and Restated Final Terms executed on 2 July 2025
- Nationwide Building Society substituted as issuer and principal debtor under the Existing Tier 2 Notes
Summary
The financial services provider announces the execution of the Supplemental Trust Deed, Supplemental Agency Agreement, and Amended and Restated Final Terms for its Tier 2 Notes.
Virgin Money UK PLC has announced the execution of the Supplemental Trust Deed, Supplemental Agency Agreement, and Amended and Restated Final Terms implementing the Proposals in respect of the £300,000,000 2.625 per cent. Fixed Rate Reset Callable Subordinated Tier 2 Capital Notes due 2031. Nationwide Building Society has been substituted in place of Virgin Money as the issuer and principal debtor under the Existing Tier 2 Notes, effective 2 July 2025.
GENERAL UPDATE