XPE Group PLC

First Debenture Mortgage Stock 2027
Information Required under Clause 16.15 As at 30 June 2024

General Information

The £354,876,000 8.75% First Mortgage Debenture Stock 2027 (ISIN GB00B1DBF788) was issued on 5 October 2006 by XPE Group PLC (under its previous name, Capital & Counties Debenture plc), a subsidiary of intu properties 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.

Instrument Information

Market Issue date Maturity date ISIN
Main Market 06 October 2006 31 December 2027 GB00B1DBF788
SEDOL Market identifier code (MIC) Trading service Market segment
B1DBF78 XLON Fixed interest (SEAQ) STBS

Property List

City Centre Shopping Centres

  • Eldon Square Shopping Centre, Newcastle upon Tyne, NE1 7JB (60%)

UK Regional Shopping Centres:

  • The Potteries Shopping Centre, Hanley, Stoke-on-Trent, Staffordshire, ST1 1PS

UK Leisure assets:

  • XSite, Braehead, Kings Inch Road, Braehead, Renfrew, PA4 8XQ

Security

The Stock is secured by a first ranking mortgage over specified properties of XPE Group PLC. A description of the mortgaged properties is given below and is updated every 6 months.

Aggregate Value

£95,400,000

Aggregate Contracted Gross Income

£20,500,000 p.a

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

Top Ten Tenants by Rent

  1. Boots UK Limited
  2. Odeon Cinemas Limited
  3. Primark Stores Limited
  4. Hennes & Mauritz
  5. Cine-UK Ltd
  6. Thursdays UK Limited
  7. Beaverbrooks the Jewellers Ltd
  8. John Lewis Properties Plc
  9. Telefonica UK Ltd
  10. Vision Express (UK) Limited

*As of June 30th 2024

Issuer, Registrar and Trustee

Issuer: XPE Group PLC (formerly Intu Debenture PLC, Capital Shopping Centres Debenture PLC and Capital & Counties Debenture PLC)

40 Broadway, London SW1H 0BT

Registrar: Link Asset Services
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 8.75% 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 £1,563.68 per £1,000 Nominal Amount
Exchange Ratio: 1.56368x 1.53340x
Accrued Interest: £29.65 £26.03