First Debenture Mortgage Stock 2027
Information Required under Clause 16.15 as at 30 June 2009
General information
The £354,876,000 5.562% First Mortgage Debenture Stock 2027 (ISIN GB00B1DBF788) was issued on 5 October 2006 by Capital & Counties Debenture PLC, a subsidiary of Liberty International PLC. The Stock is certificated and held in registered form.
It is listed on the UK Listing Authorities Official List and traded on the London Stock Exchange’s Gilt Edged and Fixed Interest Market. Details of the issue are given in the Prospectus, dated 3 October 2006.
Security
The Stock is secured by a first ranking mortgage over specified
properties of Capital & Counties Debenture PLC. A description
of the mortgaged properties is given below and is updated every 6
months.
Details as at 30 June 2009 were:
- Aggregate Value: £391,900,000
- Aggregate Income: £ 23,817,000 p.a.
Charged properties – breakdown by property:
Top Ten Tenants by Rent
| Rank | Tenant Name |
| 1 | Arcadia Group Limited |
| 2 | Boots Properties Plc |
| 3 | Debenham Retail Plc |
| 4 | Sports World International Ltd |
| 5 | Monsoon Holdings Limited |
| 6 | Primark Stores Limited |
| 7 | River Island Clothing Co Ltd |
| 8 | C & J Clark International Ltd |
| 9 | Next Group Plc |
| 10 | New Look Retailers Limited |
Property List
UK Regional Shopping Centres:
- The Potteries Shopping Centre, Hanley, Stoke-on-Trent, Staffordshire, ST1 1PS
- Eldon Square Shopping Centre, Newcastle upon Tyne, NE1 7JB (60%)
Interest & Redemption
Interest is payable half-yearly in arrears on 30 June and 31
December. Unless previously redeemed or cancelled, the Stock shall
be repaid in instalments together with the interest due on each
interest payment date.
Final redemption will be on 31 December 2027
Issuer, Registrar and Trustee
Issuer: Capital & Counties Debenture PLC
40 Broadway, London SW1H 0BU
Registrar: Capita Registrars
The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TU
Trustee: The Law Debenture Trust Corporation p.l.c.
Fifth Floor, 100 Wood Street, London EC2V 7EX
Previous Stock
The 5.562% Stock 2027 replaced the £80 million 11.25% First Mortgage Debenture Stock 2021 and the £150 million 9.875% First Mortgage Debenture Stock 2027 issued by Capital & Counties plc. Both these stocks were redeemed in full on 5 October 2006, on the terms contained in the Press Release and the Notice to 2021 Stockholders and Notice to 2027 Stockholders, dated 16 August 2006, with the pricing for the redemption being confirmed on 14 September 2006 as being:
| 2021 Stock | 2027 Stock | ||||||
|---|---|---|---|---|---|---|---|
| Spread over Benchmark: | 1.15 per cent. | 1.25 per cent. | |||||
| Benchmark Security: | 4.75 per cent. UK Treasury Gilt due March 2020 | 6.00 per cent. UK Treasury Gilt due December 2028 | |||||
| Mid-Market Benchmark Security Rate: | 4.523 per cent. | 4.312 per cent. | |||||
| Existing Stock Price: | £1,563.68 per £1,000 Nominal Amount | £1,533.40 per £1,000 Nominal Amount | |||||
| Exchange Ratio: | 1.56368x | 1.53340x | |||||
| Accrued Interest: | £29.65 | £26.03 |
