Langton Securities solicits consents for several series of floaters

By Jennifer Chiou

New York, May 9 - Three Langton Securities issuers announced the start of a consent solicitation for several series of floating-rate notes.

Affected securities include the following:

• Langton Securities (2010-1) plc's £400 million of class A5 floating-rate notes due 2054, £2.5 billion of class A9 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 €1.1 billion of class A3 floating-rate notes due 2054; and

• Langton Securities (2008-1) plc's €1,152,000,000 of class A1 floating-rate notes due 2054, £1,250,640,000 of class A2 floating-rate notes due 2054 and £1.75 billion of class A7 floating-rate notes due 2054.

The issuers are looking to modify the repayment terms of the notes and the corresponding loan tranche, according to filings with the London Stock Exchange.

Written resolutions to pass the proposed extraordinary resolution to the trust deeds for each class of notes are due by noon ET on Dec. 5.

The tabulation agent for the consent solicitation is Citibank, NA, London Branch (44 20 7508 3867 or exchange.gats@citi.com). Questions may be directed to Santander UK plc, Mortgage Backed Funding (44 20 7756 7107 or mbf@santander.co.uk).

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

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