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Standard Chartered PLC — Capital/Financing Update 2018
Jun 13, 2018
4648_rns_2018-06-13_be677a91-5233-4804-a37b-46a4f82d02a3.pdf
Capital/Financing Update
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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this document, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this document.
This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities.
Standard Chartered
STANDARD CHARTERED PLC
渣打集團有限公司
(Incorporated as a public limited company in England and Wales with registered number 966425)
(Stock Code: 02888)
STANDARD CHARTERED BANK
(Incorporated with limited liability in England by Royal Charter with reference number ZC 18)
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (INCLUDING PUERTO RICO, THE US VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), OR IN OR INTO ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION IS UNLAWFUL
12 June 2018
ANNOUNCEMENT OF ACCEPTANCE AND RESULTS OF STANDARD CHARTERED PLC'S AND STANDARD CHARTERED BANK'S OFFERS TO REPURCHASE NOTES FOR CASH
On 4 June 2018, Standard Chartered PLC ("SCPLC" or the "Company" in respect of the SCPLC Notes) invited holders of its £900,000,000 5.125 per cent. Dated Subordinated Notes due 2034 (ISIN: XS1075419694) and its £750,000,000 4.375 per cent. Notes due 2038 (ISIN: XS0876756452) (together, the "SCPLC Notes") to tender their SCPLC Notes for repurchase by the Company for cash, subject to certain offer restrictions as contained in the section "Offer and Distribution Restrictions" of the Tender Offer Memorandum dated 4 June 2018 (the "Tender Offer Memorandum").
On 4 June 2018, Standard Chartered Bank ("SCB" or the "Company" in respect of the SCB Notes) invited holders of its £200,000,000 7.750 per cent. Undated Subordinated Step-Up Notes (first callable on 31 January 2022) (ISIN: XS0119816402) (the "SCB Notes") to tender their SCB Notes for repurchase by the Company for cash, subject to certain offer restrictions as contained in the section "Offer and Distribution Restrictions" of the Tender Offer Memorandum.
1
Further to the announcement made by the Companies on 4 June 2018, the Companies hereby announce that the results of the Offers, including the aggregate nominal amount of each series of Notes validly tendered and not validly withdrawn by the Expiration Deadline, all of which are to be accepted for repurchase, and the relevant Repurchase Price payable for each Integral Multiple in nominal amount in respect of each Series of Notes to be accepted for repurchase, are as set out in the following table.
| Description of the Notes | Company | ISIN | Aggregate nominal amount tendered and accepted for repurchase | Outstanding nominal amount post settlement | Fixed Tender Spread | Reference Security | Reference Security Rate (per cent. per annum) | Repurchase Price (for each Integral Multiple in nominal amount) | Accrued Interest (for each Integral Multiple in nominal amount) |
|---|---|---|---|---|---|---|---|---|---|
| £900,000,000 5.125 per cent. Dated Subordinated Notes due 2034 | SCPLC | XS1075419694 | £372,509,000 | £527,491,000 | 265 bps | 4.500 per cent. UK Treasury Gilt due September 2034 (ISIN: GB00B52WS153) | 1.772 per cent. | £1,073.55 per £1,000 | £1.12 per £1,000 |
| £750,000,000 4.375 per cent. Notes due 2038 | SCPLC | XS0876756452 | £245,687,000 | £504,313,000 | 170 bps | 4.750 per cent. UK Treasury Gilt due December 2038 (ISIN: GB00B00NY175) | 1.824 per cent. | £1,119.66 per £1,000 | £17.77 per £1,000 |
| £200,000,000 7.750 per cent. Undated Subordinated Step-Up Notes (first callable on 31 January 2022) | SCB | XS0119816402 | £99,140,000* | £35,360,000 | 140 bps | 4.00 per cent. UK Treasury Gilt due March 2022 (ISIN: GB00B3KJDQ49) | 0.884 per cent. | £11,875.40 per £10,000 | £288.47 per £10,000 |
*Including Notes with an outstanding nominal amount of £4,000,000 tendered by a member of Standard Chartered Group and accepted for repurchase.
Each Noteholder whose Notes have been accepted for repurchase is entitled to receive on the Settlement Date, which is expected to be 14 June 2018, the relevant Total Consideration, being the Repurchase Price plus Accrued Interest, in respect of such Notes.
Capitalised terms used and not otherwise defined in this announcement have the meanings given in the Tender Offer Memorandum.
For further information, please contact:
The Dealer Managers
Lloyds Bank Corporate Markets plc
25 Gresham Street
London EC2V 7HN
United Kingdom
Standard Chartered Bank
One Basinghall Avenue
London EC2V 5DD
United Kingdom
UBS Limited
5 Broadgate
London EC2M 2QS
United Kingdom
For information by telephone:
+44 20 7158 1726
Attention: Liability Management Group
Email: [email protected]
For information by telephone:
+44 20 7885 5739
Attention: Liability Management Group
Email: [email protected]
For information by telephone:
+44 20 7568 2133
Attention: Liability Management Group
Email: [email protected]
The Information and Tender Agent
In London:
In Hong Kong:
D.F. King Ltd.
125 Wood Street
London EC2V 7AN
United Kingdom
Telephone: +44 20 7920 9700
D.F. King Ltd.
Suite 1601, 16/F, Central Tower
28 Queen's Road Central
Central Hong Kong
Telephone: +852 3953 7230
Email: [email protected]
Website: https://sites.dfkingld.com/scb
As of the date of this announcement, the Board of Directors of Standard Chartered PLC comprises:
Chairman:
José María Viñals Iñiguez
Executive Directors:
William Thomas Winters and Andrew Nigel Halford
Independent Non-Executive Directors:
Om Prakash Bhatt; Dr Louis Chi-Yan Cheung; David Philbrick Conner; Dr Byron Elmer Grote; Dr Han Seung-soo, KBE; Christine Mary Hodgson (Senior Independent Director); Gay Huey Evans, OBE; Naguib Kheraj (Deputy Chairman); Dr Ngozi Okonjo-Iweala and Jasmine Mary Whitbread
As of the date of this announcement, the Court of Directors of Standard Chartered Bank comprises:
Chairman:
William Thomas Winters, CBE
Directors:
Tracy Jayne Clarke; Andrew Nigel Halford and Mark Smith