REG - British Telecom PLC - Notice of Issuer Call

BTAnnouncement

21/02/2025 09:30

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RNS Number : 0274Y  British Telecommunications PLC  21 February 2025

21 February 2025

NOTICE OF ISSUER CALL

 

British Telecommunications public limited company

(LEI: 549300OWFMSO9NYV4H90)

£250,000,000 3.50 per cent. Index-Linked Notes due 2025 (the "Notes")

(ISIN: XS0110081782)

issued under its Euro Medium Term Note Programme

 

NOTICE IS HEREBY GIVEN by British Telecommunications public limited company
(the "Issuer") that the Notes will be fully redeemed by the Issuer on 24 March
2025 (the "Optional Redemption Date"), in accordance with Condition 5(c)
(Redemption at the Option of the Issuer (Issuer Call)) of the terms and
conditions of the Notes as amended by paragraph 5 of the Appendix to the
Pricing Supplement dated 20 April 2000  relating to the issue of the Notes
(together, the "Issuer Call Conditions"). The Notes will be redeemed on the
Optional Redemption Date at the Optional Redemption Amount calculated by HSBC
Bank plc (the "Calculation Agent") as set out in the Issuer Call Conditions.

 

The Calculation Agent has determined in accordance with the Issuer Call
Conditions that the Optional Redemption Amount in respect of the Notes is
£2,357.03 per minimum Specified Denomination of £1,000.

 

Payment of the Optional Redemption Amount, together with interest accrued
from, and including, 25 October 2024 to, but excluding, the Optional
Redemption Date, will be made on the Optional Redemption Date through
Euroclear Bank SA/NV and Clearstream Banking S.A. Accordingly, any interest in
respect of the Notes shall cease to accrue on and after the Optional
Redemption Date. The listing of the Notes on the Financial Conduct Authority's
Official List and the admission of the Notes to trading on the London Stock
Exchange's main market will be cancelled on, or around, 24 March 2025.

 

Terms used in this notice and not defined herein shall have the same meaning
given to them in the Issuer Call Conditions.

 

Further information

The Issuer has exercised its call option to redeem the Notes as part of its
liquidity and balance sheet management. The redemption will be funded by
existing cash resources.

 

Questions regarding this Notice of Issuer Call should be directed to the
Issuer at:

 

British Telecommunications public limited company

1 Braham Street

London E1 8EE

For the attention of: Andrew Binnie (Group Treasury Director)

This announcement is released by British Telecommunications public limited
company and contains information that qualified or may have qualified as
inside information for the purposes of Article 7 of the Market Abuse
Regulation (EU) 596/2014 as it forms part of domestic law by virtue of the
European Union (Withdrawal) Act 2018 ("UK MAR"). For the purposes of the UK
MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055 as it
forms part of domestic law by virtue of the European Union (Withdrawal) Act
2018, this announcement is made by Andrew Binnie, Group Treasury Director of
British Telecommunications public limited company.

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