REG - Consort Hlth.T'side - Statement re Global Deed of Amendment

Ambac FinancialAnnouncement

31/03/2025 11:45

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RNS Number : 9244C  Consort Healthcare (Tameside) PLC  31 March 2025

 

CONSORT HEALTHCARE (TAMESIDE) PLC

 

The outstanding 1.9810 per cent. Index-Linked Guaranteed Secured Bonds due
2041

unconditionally and irrevocably guaranteed as to scheduled payments of
principal and interest (adjusted for indexation) pursuant to a bond financial
guarantee issued by Ambac Assurance UK Limited ("Ambac")

ISIN XS0321115130

(the "Notes")

 

SETTLEMENTS WITH THE TAMESIDE & GLOSSOP INTEGRATED CARE NHS FOUNDATION
TRUST AND EQUANS SERVICES LIMITED

 

 

London, 31 March 2025 - Consort Healthcare (Tameside) plc (the "Company"), a
project company for the Private Finance Initiative (PFI) concession contract
 to design, construct, finance, maintain and manage the lifecycle costs of
hospital facilities in Tameside for the Tameside & Glossop Integrated Care
NHS Foundation Trust (the "Trust") provides the following update regarding
settlements reached between the Company and each of the Trust and Equans
Services Limited.

 

In this announcement, words and expressions defined (expressly or by
reference) or interpreted in the  trust deed constituting the Notes shall,
unless otherwise defined herein, bear the same meaning herein.

 

As previously announced on 10 December 2024, the Company has been in
discussions with Ambac (the Bond Financial Guarantor and Controlling Creditor)
in relation to a package of short to medium term relaxations and/or waivers of
the existing financial covenant requirements to support the deed of amendment
and variation entered into with the  Trust and the separate deed of
settlement and variation in relation to the FM Service Contract with Equans
Services Limited.  The Company has now entered into a global deed of
amendment to put these necessary relaxations in place with the first test
dates being 30 September 2025.

 

This announcement is given by the Company.

Enquiries:  consorttameside@vercitygroup.com
(mailto:consorttameside@vercitygroup.com)

 

THIS ANNOUNCEMENT CONTAINS INFORMATION THAT QUALIFIES OR MAY HAVE QUALIFIED AS
INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7 OF THE MARKET ABUSE
REGULATION (EU NO. 596/2014), AS IT FORMS PART OF UNITED KINGDOM DOMESTIC LAW
BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED.

 

 

 

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