UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE
13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of June, 2021
Commission File Number 001-14928
SANTANDER UK PLC
(Translation of registrant’s name into English)
2 Triton Square, Regent’s
Place, London NW1 3AN, England
(Address of principal executive office)
Indicate by check mark whether
the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(1): ____
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(7): ____
THIS ANNOUNCEMENT
RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1)
OF THE MARKET ABUSE REGULATION (EU) 596/2014, AS IT FORMS PART OF UNITED KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL)
ACT 2018 (AS AMENDED) (“UK MAR”)
Santander UK plc announces an increase
to the Maximum Tender Amounts and the early results of cash tender offers for two series of Notes
June 21, 2021 — Santander UK
plc (the “Offeror”) announces today (a) (i) an increase to the Maximum Tender Amount for its previously announced offer to
purchase for cash up to $395,734,000 of its outstanding $879,409,000 2.100% Notes due 2023, and (ii) an increase to the Maximum Tender
Amount for its previously announced offer to purchase for cash up to $255,545,000 of its outstanding $567,879,000 2.875%% Notes due 2024,
and (b) the early results of its previously announced offers to purchase for cash up to: (i) $395,734,000 of its outstanding $879,409,000
2.100% Notes due 2023; and (ii) $255,545,000 of its outstanding $567,879,000 2.875% Notes due 2024 (collectively, the “Notes”
and such offers, the “Tender Offers”, and each, a “Tender Offer”).
The Offeror is making separate Tender Offers,
each on the terms and subject to the conditions set forth in the offer to purchase dated June 7, 2021 (the “Offer to Purchase”).
The Offer to Purchase is available, subject to eligibility confirmation and registration, from the Tender Offers Website: https://deals.lucid-is.com/santander.
Capitalized terms used in this announcement and not otherwise defined have the meanings ascribed to them in the Offer to Purchase.
Increase to the Maximum Tender Amount
The Offeror has decided to increase the
Maximum Tender Amount for its 2.100% Notes due 2023 to $546,913,000, and the Maximum Tender Amount for its 2.875% Notes due 2024 to $260,807,000.
Results of the Tender Offers at the Early
Tender Time
As at 5:00 p.m., New York City time, on
June 18, 2021 (the “Early Tender Time”), $546,913,000 in aggregate principal amount of the 2.100% Notes due 2023 and $260,807,000
in aggregate principal amount of the 2.875% Notes due 2024 were validly tendered and not validly withdrawn pursuant to the Tender Offers.
The Offeror has accepted all such validly tendered Notes for purchase pursuant to the Tender Offers in full, without any proration.
The table below identifies the principal
amount of each series of Notes the Offeror has accepted for purchase pursuant to the Tender Offers as at the Early Tender Time and provides
details of the proration.
Title of Notes
|
Issuer
|
Securities Codes
|
Outstanding Principal Amount(1)
|
Maximum Tender Amount
|
Principal Amount Tendered(2)
|
Principal
Amount Accepted(
|
2.100% Notes due 2023
|
Santander UK plc
|
ISIN:
US80283LAY92
CUSIP:
80283LAY9
|
$879,409,000
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$546,913,000
|
$546,913,000
|
$546,913,000
|
2.875% Notes due 2024
|
Santander UK plc
|
ISIN:
US80283LAX10
CUSIP:
80283LAX1
|
$567,879,000
|
$260,807,000
|
$260,807,000
|
$260,807,000
|
___________________
(1) As at the commencement of each of the Tender Offers.
(2) As at the Early Tender Time, as reported by the Information and Tender
Agent.
Payment for Notes validly tendered (and
not validly withdrawn) at or prior to the Early Tender Time and accepted for purchase by the Offeror pursuant to the Tender Offers will
be made promptly on the Early Settlement Date, which is expected to occur on June 22, 2021.
The Offeror will announce the Reference
Yield, the Total Consideration and the Tender Offer Consideration for each series of Notes as soon as practicable after the determination
thereof. The Tender Price Determination Time is 10:00 a.m., New York City time, on June 21, 2021.
In accordance with the terms of each of
the Tender Offers, the withdrawal deadline was 5:00 p.m., New York City time, on June 18, 2021. As a result, tendered Notes may no longer
be withdrawn, except in certain limited circumstances where additional withdrawal rights are required by law (as determined by the Offeror).
Although the Tender Offers are scheduled
to expire at 11:59 p.m., New York City time, on July 2, 2021, the Offeror does not expect to accept for purchase any tenders of the 2.100%
Notes due 2023 or the 2.875% Notes due 2024 after the Early Tender Time because the aggregate principal amount of each of the 2.100% Notes
due 2023 and the 2.875% Notes due 2024 that was validly tendered and not validly withdrawn as at the Early Tender Time exceeded the Maximum
Tender Amount, as increased in the case of each series of Notes.
Subject to applicable law and the terms
and conditions of the Offer to Purchase, the Offeror may terminate any or all of the Tender Offers, waive any or all of the Conditions
prior to the Expiration Time, extend the Expiration Time or amend the terms of any or all of the Tender Offers.
The Offeror has retained J.P. Morgan Securities
LLC and Santander Investment Securities Inc. to act as the Dealer Managers for the Tender Offers and Lucid Issuer Services Limited to
act as the Information and Tender Agent for the Tender Offers. Questions regarding procedures for tendering Notes may be directed to
Lucid Issuer Services Limited at +44 (0) 20 7704 0880 or by email at santander@lucid-is.com. Additionally, the material relating to the
Tender Offers is available at https://deals.lucid-is.com/santander. Questions regarding the Tender Offers may be directed to (i) J.P.
Morgan Securities LLC at (within the United States) +1 212 834 4045 (U.S. collect) or +1 (866) 834 4666 (U.S. toll free) / (outside the
United States) +44 207 134 2468 or by email to liability_management_EMEA@jpmorgan.com; and (ii) Santander Investment Securities Inc.
at +1 212 940 1442 (U.S. collect) or +1 855 404 3636 (U.S. toll free).
This announcement is for informational purposes
only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security (including the Notes). No offer, solicitation,
or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful. The Tender Offers are only being
made pursuant to the Offer to Purchase. Holders are urged to carefully read the Offer to Purchase before making any decision with respect
to the Tender Offers.
The distribution of this announcement in
certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes are required by the Offeror, the
Dealer Managers and the Information and Tender Agent to inform themselves about and to observe any such restrictions.
This announcement is released by Santander
UK plc and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of UK MAR, encompassing
information relating to the Tender Offers described above. For the purposes of UK MAR and Article 2 of Commission Implementing Regulation
(EU) 2016/1055 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended), this
announcement is made by Tom Ranger, Treasurer at Santander UK plc.
Offer and Distribution Restrictions
United Kingdom
The communication of this announcement is
not being made, and has not been approved, by an authorised person for the purposes of section 21 of the Financial Services and Markets
Act 2000.
This announcement and the Offer to Purchase
have been issued by Santander UK plc of 2 Triton Square, Regent’s Place, London NW1 3AN, United Kingdom. Santander UK plc is authorised
and regulated by the Financial Conduct Authority (the “FCA”) and the Prudential Regulation Authority. This announcement and
the Offer to Purchase is being distributed only to existing holders of the Notes, and is only addressed to such existing Holders in the
United Kingdom where they would (if they were clients of the Offeror) be per se professional clients or per se eligible
counterparties of the Offeror within the meaning of the FCA rules. This announcement and the Offer to Purchase is not addressed to or
directed at any persons who would be retail clients within the meaning of the FCA rules and any such persons should not act or rely on
it. Recipients of this announcement and the Offer to Purchase should note that the Offeror is acting on its own account in relation to
the Tender Offers and will not be responsible to any other person for providing the protections which would be afforded to clients of
the Offeror or for providing advice in relation to the Tender Offers.
In addition, the communication of this announcement,
the Offer to Purchase and any other documents or materials relating to the Tender Offers is not being made and such documents and/or materials
have not been approved by an authorised person for the purposes of section 21 of the Financial Services and Markets Act 2000. Accordingly,
this announcement, the Offer to Purchase and such documents and/or materials are not being distributed to, and must not be passed on to,
persons in the United Kingdom other than (i) to those persons in the United Kingdom falling within the definition of investment professionals
(as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Financial Promotion
Order”)), (ii) to those persons who are within Article 43(2) of the Financial Promotion Order, including existing members and creditors
of the Offeror, (iii) to those persons who are outside the United Kingdom, or (iv) to any other persons to whom it may otherwise lawfully
be made under the Financial Promotion Order (all such persons together being referred to as “Relevant Persons”) and the transactions
contemplated herein will be available only to, and engaged in only with, Relevant Persons. Any person who is not a Relevant Person should
not act on or rely on this announcement, the Offer to Purchase or any of its contents.
France
The Tender Offers are not being made, directly
or indirectly, to the public in France. None of the announcement, the Offer to Purchase or any other documents or offering materials relating
to the Tender Offers, has been or shall be distributed to the public in France and only qualified investors (as defined in Article 2(e)
of Regulation (EU) 2017/1129) are eligible to participate in the Tender Offers. This announcement has not been submitted to the clearance
procedures (visa) of the Autorité des marchés financiers.
Italy
None of this announcement, the Offer to
Purchase or any other document or materials relating to the Tender Offers have been or will be submitted to the clearance procedures of
the Commissione Nazionale per le Società e la Borsa (“CONSOB”) pursuant to Italian laws and regulations. The Tender
Offers are being carried out in Italy as exempted offers pursuant to article 101-bis, paragraph 3-bis of the Legislative Decree No. 58
of 24 February 1998, as amended (the “Financial Services Act”) and article 35-bis, paragraph 4 of CONSOB Regulation No. 11971
of 14 May 1999, as amended. Holders or beneficial owners of the Notes that are resident and/or located in Italy can tender Notes for purchase
in the Tender Offers through authorised persons (such as investment firms, banks or financial intermediaries permitted to conduct such
activities in the Republic of Italy in accordance with the Financial Services Act, CONSOB Regulation No. 20307 of 15 February 2018, as
amended, and Legislative Decree No. 385 of September 1, 1993, as amended) and in compliance with any other applicable laws and regulations
and with any requirements imposed by CONSOB and any other Italian authority.
Each intermediary must comply with the applicable
laws and regulations concerning information duties vis-à-vis its clients in connection with the Notes or the Tender Offers.
General
This announcement does not constitute an
offer to buy or the solicitation of an offer to sell Notes, and tenders of Notes in the Tender Offers will not be accepted from Holders,
in any circumstances in which such offer or solicitation is unlawful. In those jurisdictions where the securities, blue sky or other laws
require the Tender Offers to be made by a licensed broker or dealer and either of the Dealer Managers or either of the Dealer Managers’
respective affiliates is such a licensed broker or dealer in any such jurisdiction, the Tender Offers shall be deemed to be made by such
Dealer Manager or affiliate, as the case may be, on behalf of the Offeror in such jurisdiction.
Forward-Looking Information
This announcement contains certain forward-looking
statements that reflect the Offeror’s intent, beliefs or current expectations about the future and can be recognized by the use
of words such as “expects,” “will,” “anticipate,” or words of similar meaning. These forward-looking
statements are not guarantees of any future performance and are necessarily estimates reflecting the best judgment of the senior management
of the Offeror and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested
by the forward-looking statements. As a consequence, these forward-looking statements should be considered in light of various important
factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements,
which include, without limitation, the risk factors set forth in the Offer to Purchase. The Offeror cannot guarantee that any forward-looking
statement will be realized, although it believes it has been prudent in its plans and assumptions. Achievement of future results is subject
to risks, uncertainties and assumptions that may prove to be inaccurate. Should known or unknown risks or uncertainties materialize, or
should underlying assumptions prove inaccurate, actual results could vary materially from those anticipated, estimated or projected. The
Offeror undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or
circumstances or to reflect the occurrence of unanticipated events, except as required by applicable law.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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SANTANDER UK PLC
|
|
|
|
By:
/s/ Rebecca Nind
|
|
Name:
Rebecca Nind
Title: Authorized Signatory
|
Date: June 21, 2021
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