Langton Securities gets written consents to amend floating-rate notes

By Susanna Moon

Chicago, May 18 - Langton Securities issuers said the consent solicitation measures were passed in writing by holders of several series of notes.

Under the terms of the consent bid, a meeting will be held on May 31 for those holders but no business will be conducted and no resolution will be put forth, according to a company press release.

If a quorum is not reached at the meeting, the adjourned meeting for the relevant class of notes will be held on June 14.

The issuers announced the consent bid on May 9 for the following series of floating-rate notes:

• Langton Securities (2010-1) plc's £2,125,000,000 of class A4 floating-rate notes due 2054, £400 million of class A5 floating-rate notes due 2054, £2.5 billion of class A9 floating-rate notes due 2054, £1,549,000,000 of class A10 floating-rate notes due 2054, £1,385,715,000 of class Z1 floating-rate notes due 2054 and £1,742,774,000 of class Z2 floating-rate notes due 2054;

• Langton Securities (2010-2) plc's $5.4 billion of class A2 floating-rate notes due 2054, €1.1 billion of class A3 floating-rate notes due 2054, £300 million of class A4 floating-rate notes due 2054 and £1,040,979,000 of class Z floating-rate notes due 2054;

• Langton Securities (2008-1) plc's €1,152,000,000 of class A1 floating-rate notes due 2054, €1.44 billion of class A2 floating-rate notes due 2054, £1.75 billion of class A7 floating-rate notes due 2054 and £2.5 billion of class Z floating-rate notes due 2054; and

• Langton Securities (2010-2)'s $250 million of class A1 floating-rate notes due 2054, $250 million of class A2 floating-rate notes due 2054, $250 million of class A3 floating-rate notes due 2054, $250 million of class A4 floating-rate notes due 2054, $250 million of class A5 floating-rate notes due 2054, $250 million of class A6 floating-rate notes due 2054, $250 million of class A7 floating-rate notes due 2054, $250 million of class A8 floating-rate notes due 2054, $250 million of class A9 floating-rate notes due 2054 and £255 million of class Z floating-rate notes due 2054.

Written resolutions to pass the proposed extraordinary resolution to the trust deeds for each class of notes were due by noon ET on May 17, as previously reported.

The tabulation agent for the consent solicitation is Citibank, NA, London Branch (44 20 7508 3867 or exchange.gats@citi.com).

The issuers are special-purpose companies formed under London-based Santander UK plc, a provider of personal financial services, mortgages and savings.

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