Westbury Holdings PLC ('Westbury') is looking to raise debt finance to assist with the expansion of its business. It intends to issue debt securities ('Notes') to raise the necessary finance. The board of Westbury wants to list the Notes and is considering which UK market to list them on.

The following wording appears in the draft documentation relating to the issue of the Notes by Westbury: "The Issuer agrees to issue the Notes on [date], or such later date as the Issuer and the Lead Manager agree....." (Capitalised terms are defined in the documentation but these definitions are not required for the purposes of this question.)

In which ONE of the following documents would this wording appear?

A The agreement among managers.

B The subscription agreement.

C The terms and conditions of the Bonds as set out in any prospectus.

D The invitation telex.