Lloyds Banking Group PLC Results of tender offer for certain USD notes
June 21 2017 - 5:50AM
Dow Jones News
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below were validly tendered and not validly withdrawn by 5:00 p.m.,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were validly tendered and not validly withdrawn prior to the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withdrawn at or prior to the Expiration Deadline: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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(END) Dow Jones Newswires
June 21, 2017 05:35 ET (09:35 GMT)
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