REG - Paragon Bank PLC - Publication of a Prospectus

Paragon BankingAnnouncement

24/02/2025 17:00

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RNS Number : 2527Y  Paragon Bank PLC  24 February 2025

RNS Announcement

Paragon Bank PLC
24 February 2025

 

 

Paragon Bank PLC establishes Covered Bond Programme

 

Paragon Bank PLC ("Paragon Bank"), the banking subsidiary of Paragon Banking
Group PLC ("Paragon") announces that a £5 billion Covered Bond Programme
("programme"), regulated and approved by the Financial Conduct Authority, has
now been established.

Paragon Bank will be able to issue Bonds from the programme when market
conditions are acceptable, with a relatively short preparation and lead time.

Paragon has extensive securitisation experience having completed 67
mortgage-backed transactions since 1987.  It has a recognised and successful
presence in this sector and its experience will be beneficial when issuing and
operating the programme.

Nigel Terrington, chief executive, said: "We are delighted to establish our
first Covered Bond programme, joining only 13 banks and building societies in
the UK already authorised as issuers.  This programme is part of our overall
strategy to diversify Paragon's wholesale funding options."

The following prospectus has been approved by the Financial Conduct Authority
and is available for viewing:

The prospectus dated 24 February 2025 (the "Prospectus") relating to the
establishment of the £5,000,000,000 Covered Bond Programme, with Paragon Bank
PLC as the issuer.

The full document can be viewed at:
http://www.rns-pdf.londonstockexchange.com/rns/2527Y_1-2025-2-24.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/2527Y_1-2025-2-24.pdf)

The Prospectus has been submitted to the National Storage Mechanism and will
shortly be available for inspection at:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .

 

DISCLAIMER - INTENDED ADDRESSEES

Please note that the information contained in the Prospectus may be addressed
to and/or targeted at persons who are residents of particular countries
(specified in the Prospectus) only and is not intended for use and should not
be relied upon by any person outside these countries and/or to whom the offer
contained in the Prospectus is not addressed. Prior to relying on the
information contained in the Prospectus, you must ascertain from the
Prospectus whether or not you are one of the intended addressees of the
information contained therein.

Your right to access this service is conditional upon complying with the above
requirement.

 

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