TIDMLLOY TIDM94WP
RNS Number : 0039J
Lloyds Banking Group PLC
23 June 2017
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION IN RELATION TO THE
LLOYDS BANK PLC DEBT SECURITIES DESCRIBED HEREIN AND IS DISCLOSED
IN ACCORDANCE WITH THE MARKET ABUSE REGULATION.
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR
RESIDENT IN THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES
AND POSSESSIONS) (THE "UNITED STATES") OR IN ANY OTHER JURISDICTION
WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS DOCUMENT.
LLOYDS BANK PLC ANNOUNCES INDICATIVE RESULTS OF ITS TENDER
OFFERS IN RELATION TO CERTAIN STERLING AND EURO NOTES
23 June 2017
Further to its announcement on 12 June 2017, Lloyds Bank plc
(the "Offeror") is today announcing, on a non-binding basis,
indicative results of its invitations to all Holders of the Notes
set out in the table below to tender their outstanding Notes for
purchase by the Offeror for cash up to a maximum aggregate nominal
amount to be determined by the Offeror in its sole and absolute
discretion (being the Maximum Acceptance Amount) (each such
invitation an "Offer" and, together, the "Offers").
The Offers were announced on 12 June 2017 and were made subject
to the offer and distribution restrictions set out in the tender
offer memorandum dated 12 June 2017 (the "Tender Offer
Memorandum"). Capitalised terms not otherwise defined in this
announcement have the same meaning as assigned to them in the
Tender Offer Memorandum.
INDICATIVE RESULTS
The Offeror hereby announces its non-binding intention to accept
valid tenders of the Notes pursuant to the Offers with an
indicative Maximum Acceptance Amount of approximately
GBP950,273,348.
The following table sets out the aggregate nominal amount of
Notes validly tendered pursuant to the relevant Offer, the
indicative Pro-ration Factor (if any) and the indicative Series
Acceptance Amount, in each case in relation to each Series of
Notes.
Indicative Series
Acceptance Amount
(Sterling equivalent
Nominal Amount Indicative Indicative Series converted at the
Title of Security ISIN Number Validly Tendered Pro-ration Factor Acceptance Amount Euro FX Rate)
------------------- -------------- ------------------ ------------------ ------------------ ---------------------
Sterling Notes
GBP250,000,000 XS1239389684 GBP80,855,000 1 GBP80,855,000 n.a.
2.500 per cent.
Notes due June
2022
Euro Notes
EUR1,350,000,000
Floating Rate
Notes due
September 2019 XS1109333986 EUR324,329,000 1 EUR324,329,000 GBP285,827,972
EUR1,000,000,000
0.625 per cent.
Notes due April
2020 XS1219428957 EUR196,225,000 1 EUR196,225,000 GBP172,931,171
EUR1,500,000,000
1.000 per cent.
Notes due
November 2021 XS1139091372 EUR434,789,000 0 EUR0 GBP0
EUR1,250,000,000
1.375 per cent.
Notes due
September 2022 XS1280783983 EUR298,364,000 1 EUR298,364,000 GBP262,945,272
EUR1,250,000,000
1.250 per cent.
Notes due January
2025 XS1167204699 EUR167,611,000 1 EUR167,611,000 GBP147,713,933
PRICE DETERMINATION TIME
The Price Determination Time is expected to be at or around 2.00
p.m. London time on 23 June 2017.
As soon as reasonably practicable after the Price Determination
Time, the Offeror is expected to announce whether it will accept
valid tenders of Notes of any Series pursuant to the relevant Offer
and, if so, (i) the Maximum Acceptance Amount, (ii) in relation to
each Series of Notes, the Series Acceptance Amount and any
Pro-ration Factor(s) and (iii) the relevant Reference Yield,
Repurchase Yield and Purchase Price in relation to each relevant
Series of Fixed Spread Notes accepted for purchase.
Holders who do not participate in the Offers or whose Notes are
not accepted for purchase will continue to hold their Notes subject
to their terms and conditions.
SETTLEMENT DATE
The Settlement Date is expected to be 27 June 2017.
FURTHER INFORMATION
For further information please contact:
Investor Relations:
Douglas Radcliffe
Group Investor Relations Director
Telephone: +44 (0)20 7356 1571
Email: douglas.radcliffe@finance.lloydsbanking.com
Requests for information in relation to the
Offers should be directed to:
DEALER MANAGER
Lloyds Bank plc
10 Gresham Street
London EC2V 7AE
United Kingdom
Tel: +44 20 7158 2720
Attention: Liability Management Group
email: liability.management@lloydsbanking.com
Requests for information in relation to, and
for any documents or materials relating to,
the Offers should be directed to:
TENDER AGENT
Lucid Issuer Services Limited
Tankerton Works
12 Argyle Walk
London WC1H 8HA
United Kingdom
Tel: +44 20 7704 0880
Attention: Paul Kamminga/Arlind Bytyqi
email: lloydsbank@lucid-is.com
The Offeror launched, contemporaneously with the launch of the
Offers, offers to holders of three series of U.S. dollar
denominated notes issued by the Offeror. This announcement does not
relate to the U.S. Offer.
DISCLAIMER
This announcement must be read in conjunction with the
announcement relating to the Offers published via RNS on 12 June
2017 and the Tender Offer Memorandum. This announcement does not
constitute an offer or an invitation to participate in the Offers
in the United States or in any other jurisdiction in which, or to
any person to or from whom, it is unlawful to make such offer or
invitation or for there to be such participation under applicable
laws.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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