Saltaire Finance sells £50 million of retained bonds

what happened

The London Stock Exchange’s RNS news service reported that Saltaire Finance plc sold £50,000,000 in principal amount of bonds on 12 October 2026. The transaction involved Saltaire Finance Plc 4.998% Guaranteed Secured Bonds due 2035 / 2037 (ISIN: XS3146741031), issued under the company’s £6,000,000,000 Guaranteed Secured Bond Programme.

The securities sold were Retained Bonds identified in the Programme Memorandum dated 13 March 2024, as supplemented most recently by the Pricing Supplement dated 11 August 2025. The programme’s obligations are backed by an unconditional and irrevocable guarantee from the Secretary of State for Housing, Communities and Local Government, previously known as the Secretary of State for Levelling Up, Housing and Communities.

Once the sale is completed, the programme’s aggregate bonds outstanding will total £350,000,000, of which £20,000,000 will remain Retained Bonds held by or for the issuer. The notice, RNS Number 6147Y, says it contains inside information under Article 7 of Market Abuse Regulation (EU) 596/2014 as incorporated into UK law by the European Union (Withdrawal) Act 2018. It was made by Helena Whitaker for CSC Directors (No.3) Limited under UK MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055. Venn Partners LLP (trading as Venn) is the contact for further information at legal@venn-partners.com, operations@venn-partners.com and +44 (0)20 7073 9350. The securities are not registered under the U.S. Securities Act of 1933, will not be publicly offered in the United States, and remain subject to Regulation S restrictions and related distribution limits.

why it matters

The transaction changes the split between bonds retained by the issuer and bonds sold to investors while leaving the programme’s stated guarantee structure unchanged. The U.S. offering and distribution restrictions remain relevant to market access.

instruments