Langton Securities solicits consents for numerous 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 £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 issued on July 28, 2011.

Written resolutions to pass the proposed extraordinary resolution to the trust deeds for each class of notes are due by noon ET on May 17.

If the extraordinary resolution is not passed as written resolutions, the issuers will seek consent at noteholder meetings on May 31.

The issuers are seeking consents from 75% of the votes cast at noteholder meetings.

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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