Lloyds Bank PLC Cash Tender Offer - 12% Capital Securities (0524J)
April 07 2020 - 5:43AM
UK Regulatory
TIDM94WP TIDMLLOY
RNS Number : 0524J
Lloyds Bank PLC
07 April 2020
April 7, 2020
Lloyds Bank plc - RESULTS OF TENDER OFFER FOR ANY AND ALL OF ITS
12.00% FIXED-TO-FLOATING RATE PERPETUAL CAPITAL SECURITIES
Lloyds Bank plc (the "Offeror") is today announcing the final
results of its previously announced cash tender offer (the "Offer")
for any and all of its 12.00% Fixed-to-Floating Rate Perpetual
Capital Securities (the "Notes"). The Offer was made on the terms
and subject to the conditions set out in the Offer to Purchase
dated March 31, 2020 (the "Offer to Purchase") and the related
notice of guaranteed delivery.
Capitalized 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, $137,432,000
in aggregate principal amount of the Notes were validly tendered
and not validly withdrawn by 5:00 p.m., New York City time, on
April 6, 2020 (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tendered and not validly withdrawn prior to the Expiration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 April 9, 2020.
The table below sets forth, among other things, the principal
amount of Notes validly tendered and not validly withdrawn at or
prior to the Expiration Deadline:
Aggregate
Principal
Amount Tendered Aggregate
Excluding Principal Purchase
Notes Tendered Amount Tendered Price Per
Principal Using Guaranteed Using Guaranteed $1,000 Principal
Amount Delivery Delivery Amount of
Notes ISIN/CUSIP Outstanding(1) Procedures Procedures Notes
------------------------- ----------------- ---------------- ---------------- ----------------- -----------------
12.00% Fixed-to-Floating
Rate Perpetual XS0474660676
Capital Securities and US539473AE82 $2,000,000,000 $137,432,000 $0 $1,090
539473AE8
________________
(1) As of the commencement date of the Offer.
FURTHER INFORMATION
Lucid Issuer Services Limited acted as tender agent for the
Offer. Goldman Sachs International and Lloyds Securities Inc. acted
as Dealer Managers. Questions regarding the Offer should be
directed to Goldman Sachs International at +44 20 7552 6157 or
Lloyds Securities Inc. at +1 (212) 284-0411.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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