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LONDON - HSBC UK Bank plc has amended several agreements related to its €25 billion Global Covered Bond Programme, according to a notice issued to bondholders on Monday.
The bank modified the Master Definitions and Construction Agreement, the Account Bank Agreement, and the Intercompany Loan Agreement. The changes include revisions to definitions, the opening of a new LLP Covered Bond Account denominated in euros, and amendments to the schedule concerning the use of proceeds from Covered Bonds specified as "Green Bonds."
The amendments were formalized through an Amendment Deed dated June 9, 2025, between HSBC UK Bank plc and HSBC UK Covered Bonds LLP, among other parties.
The Global Covered Bond Programme is unconditionally and irrevocably guaranteed as to payments by HSBC UK Covered Bonds LLP.
The bank has made the Amendment Deed available for inspection on its investor portal. The notice specified that the Bond Trustee and Security Trustee assume no responsibility for the contents of the notice and make no recommendations regarding any actions to be taken.
The covered bond programme amendments come as financial institutions continue to adjust their funding structures in response to market conditions and regulatory requirements.
This article is based on information contained in a press release statement from HSBC UK Bank plc.
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