LLOY Lloyds Banking Group Plc

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by the Tender Agent, $137,432,000 in aggregate principal amount of the Notes were validly tendered and not validly withdrawn by 5:00 p.m., New York City time, on April 6, 2020 (the "Expiration Deadline"), as more fully set forth below. The Offeror has accepted all Notes that were validly tendered and not validly withdrawn prior to the Expiration Deadline.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The table below sets forth, among other things, the principal amount of Notes validly tendered and not validly withdrawn at or prior to the Expiration Deadline: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.

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April 07, 2020 05:59 ET (09:59 GMT)

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