Subordinated Bonds

RNS Number : 0508O

Standard Life plc

12 September 2011

 



NOT FOR DISTRIBUTION TO ANY PERSON RESIDENT AND/OR LOCATED IN THE UNITED STATES

This announcement does not constitute an invitation to participate in the Invitation (as defined herein) in or from any jurisdiction in or from which, or to or from whom, it is unlawful to make such offer under applicable securities laws or otherwise. The distribution of this announcement in certain jurisdictions (in particular the United States, Italy, the United Kingdom, Belgium and France) may be restricted by law. Persons into whose possession this document comes are required by the Joint Dealer Managers and the Company (each as defined below) to inform themselves about, and to observe, any such restrictions. No action that would permit a public offer has been or will be taken in any jurisdiction by the Joint Dealer Managers or the Company.

12 September 2011

On 30 August 2011, Standard Life plc (the "Company") announced an invitation to holders of the outstanding €750,000,000 6.375 per cent. Fixed/Floating Rate Subordinated Guaranteed Bonds due 2022 issued by the Company (ISIN: XS0151267522; Common Code: 015126752) (the "Bonds") to submit offers ("Offers") to sell their Bonds to the Company for cash (the "Invitation"). The Invitation was made upon the terms and subject to the conditions contained in the invitation for offers dated 30 August 2011 (the "Invitation for Offers") prepared in connection with the Invitation, and subject to the jurisdictional restrictions set out therein. This announcement must be read in conjunction with the Invitation for Offers.

Following the expiration of the Invitation at 4.00 p.m., London time, on 9 September 2011, the Company is pleased to announce that it has accepted for purchase €687,220,000 in aggregate principal amount of the Bonds at the Purchase Price of €10,200 per €10,000 in principal amount in accordance with the terms and conditions of the Invitation.

Upon settlement of the Invitation, €62,780,000 in aggregate principal amount of the Bonds will remain outstanding.

The Purchase Price, together with accrued but unpaid interest for the Bonds, will be paid to holders whose Bonds have been accepted for purchase by the Company. Settlement of the Invitation is expected to occur on 14 September 2011.

Further Information

The Invitation is described in full in the Invitation for Offers which is available to eligible persons upon request from Lucid Issuer Services Limited, the Tender Agent for the Invitation. Deutsche Bank AG, London Branch, J.P. Morgan Securities Ltd. and UBS Limited are the Joint Dealer Managers for the Invitation.

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

JOINT DEALER MANAGERS

Deutsche Bank AG, London Branch
Winchester House
1 Great Winchester Street
London EC2N 2DB
United Kingdom
Tel: [phone]
Email: [e-mail]

J.P. Morgan Securities Ltd.
125 London Wall
London EC2Y 5AJ
Tel: [phone]
Email: [e-mail]

UBS Limited
1 Finsbury Avenue
London EC2M 2PP
Tel: [phone]
Email: [e-mail]

 

END

 

 

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