November 10, 2016 –
Lloyds Banking Group plc (“LBG”) today announced the expiration and final results of its previously announced
exchange offer for its 4.582% Subordinated Debt Securities due 2025 (the “2025 New Notes”) and its 5.300%
Subordinated Debt Securities due 2045 (the “2045 New Notes” and, together with the 2025 New Notes, the “New
Notes”), which have been registered under the Securities Act of 1933, as amended, for all outstanding 4.582% Subordinated
Debt Securities due 2025 (the “2025 Old Notes”) and 5.300% Subordinated Debt Securities due 2045 (the “2045
Old Notes” and, together with the 2025 Old Notes, the “Old Notes”) that were issued by LBG in December
2015.
Based on information
provided by the exchange agent, approximately $1,327.7 million in aggregate principal amount, or 98.10%, of the outstanding
2025 Old Notes and approximately $824.0 million in aggregate principal amount, or 99.99%, of the outstanding 2045 Old
Notes were validly tendered and not validly withdrawn in the exchange offer as of 11:59 p.m., New York City time, on November
9, 2016 (the “Expiration Deadline”). LBG has accepted for exchange on the Exchange Date all Old Notes that
were validly tendered and not validly withdrawn prior to the Expiration Deadline. The Exchange Date is expected to be
November 14, 2016.
Following the Exchange
Date, $1,327,685,000 aggregate principal amount of the 2025 New Notes and $824,033,000 aggregate principal amount of the
2045 New Notes will be outstanding.
The terms of the exchange
offer are set forth in a prospectus dated November 4, 2016. Documents relating to the exchange offer, including the prospectus,
have been filed with the Securities and Exchange Commission. For further information, contact the exchange agent, The
Bank of New York Mellon, at the following addresses:
United States
:
The Bank of New York
Mellon, as Exchange Agent
Corporate Trust Operations
- Reorganization Unit
111 Sanders Creek Parkway
East Syracuse, NY 13057
United States of America
Attn: Pamela Adamo
Tel: 315-414-3317
Fax: 732-667-9408
Email: ct_reorg_unit_inquiries@bnymellon.com
London
:
The Bank of New York
Mellon, as Exchange Agent
Debt Restructuring Services
Tel +44 1202689644
Email: debtrestructuring@bnymellon.com
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