Lloyds TSB Bank PLC Tender Offer - EUR and GBP securities - Results

Date : 07/09/2012 @ 10:23AM
Source : Dow Jones News
Stock : Lloyds Banking Grp. Plc American Depositary Shares (LYG)
Quote : 3.62  0.03 (0.84%) @ 3:59PM

Lloyds TSB Bank PLC Tender Offer - EUR and GBP securities - Results

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RNS Number : 2416H

Lloyds TSB Bank PLC

09 July 2012

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (THE "UNITED STATES") OR TO ANY U.S. PERSON.

==========================================================================================

9 July 2012, 2.40 p.m.

Lloyds TSB Bank plc cash tender offer on certain euro and pounds sterling securities: announcement of pricing information and final results

On 28 June 2012, Lloyds TSB Bank plc (the "Issuer") invited Holders of the securities listed below (the "Securities") to tender their Securities for cash purchase (the "Offers") on the terms of and subject to the Maximum Offer Amount and the other conditions contained in a tender offer memorandum dated 28 June 2012 (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.

Further to such invitation, the Issuer announced the Clearing Spread and indicative Series Acceptance Amount in respect of each Series of Securities at 10.50 a.m. (London time) today, 9 July 2012.

The Issuer hereby informs Holders that the Reference Yield, Repurchase Yield, Purchase Price, Accrued Interest; and final Series Acceptance Amount in respect of each Series of Securities has been set as specified in the table below. The Issuer has elected to increase the Maximum Offer Amount in accordance with the conditions contained in the Tender Offer Memorandum to GBP1,442,000,000.

 
                                                                                                                         Series 
                                     Principal Amount   Reference      Clearing   Reference   Repurchase   Purchase      Acceptance       Accrued 
 Title of Security   ISIN Numbers    Outstanding        Benchmark      Spread     Yield       Yield        Price[ ]      Amount           Interest[++] 
------------------  --------------  -----------------  -------------  ---------  ----------  -----------  ------------  ---------------  ------------- 
 EUR982,549,000                                         Applicable 
  6.25 per cent.                                        Interpolated   +90 
  Notes due April                                       Mid-Swap       basis 
  2014               XS0422704238    EUR982,549,000     Rate           points     0.843%      1.743%       EUR1,077.43   EUR306,693,000   EUR14.90 
 EUR1,500,000,000                                       Applicable 
  4.50 per cent.                                        Interpolated   +90 
  Notes due                                             Mid-Swap       basis 
  September 2014     XS0604400001    EUR1,500,000,000   Rate           points     0.773%      1.673%       EUR1,059.98   EUR503,203,000   EUR36.89 
 EUR1,250,000,000                                       Applicable 
  3.75 per cent.                                        Interpolated   +135 
  Notes due                                             Mid-Swap       basis 
  September 2015     XS0539845171    EUR1,250,000,000   Rate           points     0.846%      2.196%       EUR1,046.87   EUR232,435,000   EUR31.56 
 EUR2,000,000,000                                       Applicable 
  6.375 per cent                                        Interpolated   +200 
  Notes due June                                        Mid-Swap       basis 
  2016               XS0435070288    EUR2,000,000,000   Rate           points     0.945%      2.945%       EUR1,125.63   EUR295,929,000   EUR4.19 
 GBP400,000,000                                         5 per cent. 
  6.75 per cent.                                        UK Treasury    +314 
  Notes due                                             Gilt due       basis 
  October 2018       XS0395139354    GBP400,000,000     March 2018     points     0.778%      3.918%       GBP1,156.38   GBP174,150,000   GBP14.39 
 EUR1,500,000,000                                       Applicable 
  5.375 per cent.                                       Interpolated   +200 
  Notes due                                             Mid-Swap       basis 
  September 2019     XS0449361350    EUR1,500,000,000   Rate           points     1.472%      3.472%       EUR1,118.53   EUR259,259,000   EUR45.82 
 

FURTHER INFORMATION

Lucid Issuer Services Limited has been appointed by the Issuer as Tender Agent (the "Tender Agent") for the purposes of the Offers.

Deutsche Bank AG, London Branch and Lloyds TSB Bank plc (acting through Lloyds Bank) have been appointed by the Issuer as Dealer Managers (the "Dealer Managers") for the purposes of the Offers.

For further information please contact:

For press:

Nicole Sharp

Media Relations

Nicole.sharp@lloydsbanking.com

+44 207 356 2120

For analysts:

Frederik Verpoest Director of Investor Relations Lloyds Banking Group +44 207 356 2385 +44 750 948 4949

Requests for information in relation to the Offers should be directed to:

DEALER MANAGERS

 
   Deutsche Bank AG, London Branch                  Lloyds TSB Bank plc 
           Winchester House                              Lloyds Bank 
      1 Great Winchester Street                       10 Gresham Street 
           London EC2N 2DB                             London EC2V 7AE 
            United Kingdom                             United Kingdom 
        Tel: +44 20 7545 8011                       Tel: +44 20 7158 3981 
   Attention: Liability Management             Attention: Liability Management 
                Group                                       Group 
  email: liability.management@db.com    email: liability.management@lloydsbanking.com 
 
 
 
                         TENDER AGENT 
                Lucid Issuer Services Limited 
                         Leroy House 
                        436 Essex Road 
                        London N1 3QP 
                        United Kingdom 
                  Tel: +44 (0) 20 7704 0880 
  Attention: Sunjeeve Patel / David Shilson / Thomas Choquet 
                       / Paul Kamminga 
                   Email: lbg@lucid-is.com 
 

DISCLAIMER

This announcement must be read in conjunction with the Tender Offer Memorandum. This announcement and the Tender Offer Memorandum contain important information which must be read carefully before any decision is made with respect to the Offers. If any Holder is in any doubt as to the action it should take, it is recommended to seek its own legal, tax, accounting and financial advice, including as to any tax consequences, from its stockbroker, bank manager, solicitor, accountant or other independent financial adviser. Any individual or company whose Securities are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee must contact such entity if it wishes to participate in the Offers. None of the Issuer, the Dealer Managers, the Tender Agent and any person who controls, or is a director, officer, employee or agent of such persons, or any affiliate of such persons, makes any recommendation as to whether Holders should participate in the Offers.

   [ ]               Per EUR1,000 or GBP1,000 principal amount, as applicable. 

[++] Per EUR1,000 or GBP1,000 principal amount, as applicable, for the purposes of illustration only.

This information is provided by RNS

The company news service from the London Stock Exchange

END

TENBXGDRCXGBGDC

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