BT Group PLC
17 November 2003
Press Release
BT prices its issue of bonds exchangeable into LG Telecom shares
London, November 17th, 2003 - BT Group plc ("BT") announces that it has
finalised the terms of its offering, announced this morning, of bonds
exchangeable into BT's shares in LG Telecom ("LGT").
After a successful bookbuilding exercise, which was heavily oversubscribed, the
bonds have been priced and fully allocated to institutional investors. They will
pay a coupon of 0.75% per annum, significantly lower than the indicated range,
and they will be convertible into LGT shares at a premium of 17.5% to LGT's
current share price. Proceeds from the offering will be US$172m (£102m).
Lehman Brothers International (Europe) and Deutsche Bank AG London are Joint
Bookrunners to the Exchangeable Bond issue.
Disclaimer
This is not an offer of securities. The securities will not be offered for sale
in the United States, Canada or Japan. The Bonds and the Shares are not being
registered under the US Securities Act of 1933, as amended (the "Securities
Act") and may not be offered or sold in the United States or to or for the
account or benefit of US persons (as such terms are defined in Regulation S
under the Securities Act) unless registered under the Securities Act or pursuant
to an exemption from registration. BT does not intend to register the securities
under the Securities Act.
In the United Kingdom, this announcement is directed exclusively at persons who
fall within article 19 or article 49 of the Financial Services and Markets Act
2000 (Financial Promotion) Order 2001. The Exchangeable Bonds referred to in
this announcement will be issued only to such persons.
Stabilisation / FSA.
This information is provided by RNS
The company news service from the London Stock Exchange
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