LLOY Lloyds Banking Group Plc

TIDMLLOY TIDM94WP

RNS Number : 7240I

Lloyds Banking Group PLC

21 June 2017

21 June 2017

Lloyds Bank plc - RESULTS OF TENDER OFFER FOR CERTAIN OF ITS OUTSTANDING USD NOTES

Lloyds Bank plc ("Lloyds Bank" or the "Offeror") is today announcing the final results of its previously announced cash tender offer (the "Offer") for any and all of certain series of outstanding U.S. dollar denominated notes issued by Lloyds Bank plc and guaranteed by Lloyds Banking Group plc (the "Notes"). The Offer was made on the terms and subject to the conditions set out in the Offer to Purchase dated 12 June 2017 (the "Offer to Purchase") and the related notice of guaranteed delivery.

Capitalised terms not otherwise defined in this announcement have the same meaning as in the Offer to Purchase.

Based on information provided by the Tender Agent, $257,235,000 in aggregate principal amount of the Notes listed in the table below were validly tendered and not validly withdrawn by 5:00 p.m., New York City time, on 20 June 2017 (the "Expiration Deadline"), as more fully set forth below. The Offeror has accepted all Notes that were validly tendered and not validly withdrawn prior to the Expiration Deadline. The Settlement Date is expected to be 23 June 2017. In addition, $1,175,000 in aggregate principal amount of the Notes were tendered using the guaranteed delivery procedures.

The table below sets forth, among other things, the principal amount of each series of Notes validly tendered and not validly withdrawn at or prior to the Expiration Deadline:

 
                                                 Aggregate 
                                                 Principal 
                                                   Amount           Aggregate 
                                                  Tendered          Principal       Purchase 
                                                 Excluding            Amount        Price Per 
                                               Notes Tendered        Tendered        $1,000 
                                Principal     Using Guaranteed   Using Guaranteed   Principal 
                                  Amount          Delivery           Delivery        Amount 
    Notes        ISIN/CUSIP     Outstanding      Procedures         Procedures      of Notes 
--------------  -------------  ------------  -----------------  -----------------  ---------- 
    2.350% 
    Senior 
   Notes due 
 2019 (Series 
      1)        US53944VAB53   $466,152,000    $112,051,000        $1,175,000      $1,008.34 
           53944VAB5 
    2.400% 
    Senior 
   Notes due 
 2020 (Series 
      2)        US53944VAE92   $466,899,000     $70,425,000            $0          $1,009.03 
           53944VAE9 
    3.500% 
    Senior 
   Notes due 
 2025 (Series 
      3)        US53944VAH24   $515,222,000     $74,759,000            $0          $1,043.90 
           53944VAH2 
 

FURTHER INFORMATION

Lucid Issuer Services Limited acted as tender agent for the Offer. Lloyds Securities Inc. acted as Dealer Manager. Questions regarding the Offer should be directed to Lloyds Securities Inc. at +1 (855) 400-6511 (U.S. Toll-Free) or +1 (212) 827-3105 (U.S. Collect).

CONCURRENT NON-U.S. OFFER

On 12 June 2017, the Offeror also launched a capped tender offer (the "Non-U.S. Offer") in respect of certain of Lloyds Bank's outstanding euro and pound sterling denominated debt securities. This announcement does not relate to the Non-U.S. Offer.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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June 21, 2017 05:35 ET (09:35 GMT)

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