FOR
DISTRIBUTION ONLY OUTSIDE THE UNITED STATES TO PERSONS OTHER THAN
"U.S. PERSONS" (AS DEFINED IN REGULATION S UNDER THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED (THE SECURITIES ACT)). NOT FOR
RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON
LOCATED OR RESIDENT IN, ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL
TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT.
ASB Bank
Limited
(incorporated with limited liability in
New Zealand under company number 398445)
as Issuer
announces amendments to
certain Programme Documents in respect of
its €7,000,000,000 ASB Covered Bond Programme (the
Programme)
22
November 2024
NOTICE IS HEREBY GIVEN as
follows:
1.
We, ASB Bank Limited (as Issuer) refer to the bond trust deed
dated 11 August 2011 and made between the Issuer, ASB Covered Bond
Trustee Limited and Deutsche Trustee Company Limited (as the Bond Trustee) as supplemented, amended
or restated from time to time (Bond Trust Deed).
All words and expressions defined in the Bond
Trust Deed or the Definitions Schedule (as defined in the Bond
Trust Deed), as supplemented, amended or restated from time to
time, shall (save as otherwise provided herein or unless the
context otherwise requires) have the same meanings in this
notice.
2.
This notice is given to all Covered Bondholders in accordance
with:
(a)
Condition 12 (Notices);
(b)
clause 21.1 of the Bond Trust Deed; and
(c)
clause 26.2 of the Security Deed.
3.
On 13 November 2024, the Programme Documents noted in
paragraph 4 were
amended (the Amendments).
4.
The Programme Documents amended to give effect to the Amendments
were the:
(a)
Definitions Schedule;
(b)
schedule and credit support annex to the Total Return Swap
Agreement;
(c)
Servicing Agreement;
(d)
Mortgage Sale Agreement;
(e)
Bond Trust Deed;
(f)
Programme Agreement; and
(g)
Principal Agency Agreement.
5.
The Amendments were made with the consent of the
Bond Trustee pursuant to clause 21.1 of the Bond Trust Deed and the
Security Trustee pursuant to clause 26.1 of the Security Deed on
the basis that the Amendments were not materially prejudicial to
the interests of Covered Bondholders and/or were of a technical
nature or are made to comply with mandatory provisions of
law.
6.
The Issuers have
notified Fitch and
Moody's of the Amendments and neither Fitch nor Moody's has
indicated that there would be any adverse ratings consequences as a
consequence of making the Amendments.
Details of the Covered
Bonds
|
|
EUR 500,000,000 0.75% Covered Bonds
Series 2018-1 due 9 October 2025
|
XS1887485032
|
EUR 750,000,000 0.25% Covered Bonds
Series 2021-1 due 21 May 2031
|
XS2343772724
|
|
|
General
The distribution of this
announcement in certain jurisdictions may be restricted by law, and
persons into whose possession this announcement comes are required
to inform themselves about, and to observe, any such
restrictions.
The Covered Bonds have not been, and
will not be, registered under the Securities Act, or with any
securities regulatory authority of any state or other jurisdiction
and may not be offered or sold within the United States or to, or
for the account or benefit of, "U.S. Persons" (as defined in Regulation S under the
Securities Act), except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the
Securities Act and applicable state or local securities
laws.
For further information:
Head of Funding and Balance
Sheet Management, ASB Bank Limited
Neil Subramoney
Tel:
+64 9 337 4371
Email:
funding@asb.co.nz
http://www.rns-pdf.londonstockexchange.com/rns/4860N_1-2024-11-25.pdf