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Lloyds Banking Group PLC — Capital/Financing Update 2017
Jun 23, 2017
4691_rns_2017-06-23_def924a1-3ec2-425d-9cdf-bf326d88890e.html
Capital/Financing Update
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RNS Number : 0039J
Lloyds Banking Group PLC
23 June 2017
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION IN RELATION TO THE LLOYDS BANK PLC DEBT SECURITIES DESCRIBED HEREIN AND IS DISCLOSED IN ACCORDANCE WITH THE MARKET ABUSE REGULATION.
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS) (THE "UNITED STATES") OR IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS DOCUMENT.
LLOYDS BANK PLC ANNOUNCES INDICATIVE RESULTS OF ITS TENDER OFFERS IN RELATION TO CERTAIN STERLING AND EURO NOTES
23 June 2017
Further to its announcement on 12 June 2017, Lloyds Bank plc (the "Offeror") is today announcing, on a non-binding basis, indicative results of its invitations to all Holders of the Notes set out in the table below to tender their outstanding Notes for purchase by the Offeror for cash up to a maximum aggregate nominal amount to be determined by the Offeror in its sole and absolute discretion (being the Maximum Acceptance Amount) (each such invitation an "Offer" and, together, the "Offers").
The Offers were announced on 12 June 2017 and were made subject to the offer and distribution restrictions set out in the tender offer memorandum dated 12 June 2017 (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.
INDICATIVE RESULTS
The Offeror hereby announces its non-binding intention to accept valid tenders of the Notes pursuant to the Offers with an indicative Maximum Acceptance Amount of approximately £950,273,348.
The following table sets out the aggregate nominal amount of Notes validly tendered pursuant to the relevant Offer, the indicative Pro-ration Factor (if any) and the indicative Series Acceptance Amount, in each case in relation to each Series of Notes.
| Title of Security | ISIN Number | Nominal Amount Validly Tendered | Indicative Pro-ration Factor | Indicative Series Acceptance Amount | Indicative Series Acceptance Amount (Sterling equivalent converted at the Euro FX Rate) |
| Sterling Notes | |||||
| £250,000,000 2.500 per cent. Notes due June 2022 | XS1239389684 | £80,855,000 | 1 | £80,855,000 | n.a. |
| Euro Notes | |||||
| €1,350,000,000 Floating Rate Notes due September 2019 | XS1109333986 | €324,329,000 | 1 | €324,329,000 | £285,827,972 |
| €1,000,000,000 0.625 per cent. Notes due April 2020 | XS1219428957 | €196,225,000 | 1 | €196,225,000 | £172,931,171 |
| €1,500,000,000 1.000 per cent. Notes due November 2021 | XS1139091372 | €434,789,000 | 0 | €0 | £0 |
| €1,250,000,000 1.375 per cent. Notes due September 2022 | XS1280783983 | €298,364,000 | 1 | €298,364,000 | £262,945,272 |
| €1,250,000,000 1.250 per cent. Notes due January 2025 | XS1167204699 | €167,611,000 | 1 | €167,611,000 | £147,713,933 |
PRICE DETERMINATION TIME
The Price Determination Time is expected to be at or around 2.00 p.m. London time on 23 June 2017.
As soon as reasonably practicable after the Price Determination Time, the Offeror is expected to announce whether it will accept valid tenders of Notes of any Series pursuant to the relevant Offer and, if so, (i) the Maximum Acceptance Amount, (ii) in relation to each Series of Notes, the Series Acceptance Amount and any Pro-ration Factor(s) and (iii) the relevant Reference Yield, Repurchase Yield and Purchase Price in relation to each relevant Series of Fixed Spread Notes accepted for purchase.
Holders who do not participate in the Offers or whose Notes are not accepted for purchase will continue to hold their Notes subject to their terms and conditions.
SETTLEMENT DATE
The Settlement Date is expected to be 27 June 2017.
FURTHER INFORMATION
For further information please contact:
Investor Relations:
Douglas Radcliffe
Group Investor Relations Director
Telephone: +44 (0)20 7356 1571
Email: [email protected]
| Requests for information in relation to the Offers should be directed to: DEALER MANAGER |
| Lloyds Bank plc 10 Gresham Street London EC2V 7AE United Kingdom Tel: +44 20 7158 2720 Attention: Liability Management Group email: [email protected] |
| Requests for information in relation to, and for any documents or materials relating to, the Offers should be directed to: |
| TENDER AGENT |
| Lucid Issuer Services Limited Tankerton Works 12 Argyle Walk London WC1H 8HA United Kingdom Tel: +44 20 7704 0880 Attention: Paul Kamminga/Arlind Bytyqi email: [email protected] |
The Offeror launched, contemporaneously with the launch of the Offers, offers to holders of three series of U.S. dollar denominated notes issued by the Offeror. This announcement does not relate to the U.S. Offer.
DISCLAIMER
This announcement must be read in conjunction with the announcement relating to the Offers published via RNS on 12 June 2017 and the Tender Offer Memorandum. This announcement does not constitute an offer or an invitation to participate in the Offers in the United States or in any other jurisdiction in which, or to any person to or from whom, it is unlawful to make such offer or invitation or for there to be such participation under applicable laws.
This information is provided by RNS
The company news service from the London Stock Exchange
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