USD Notes Tender Offer Results

RNS Number : 3744O

Lloyds Banking Group PLC

04 November 2016

 

4 November 2016

Lloyds Bank plc - RESULTS OF ANY AND ALL TENDER OFFER

Lloyds Bank plc ("Lloyds Bank" or the "Offeror") is today announcing the final results of its previously announced cash tender offer for any and all of certain series of outstanding U.S. dollar denominated notes (the "Any and All Notes") issued by Lloyds Bank plc and guaranteed by Lloyds Banking Group plc (the "Any and All Tender Offer"). The Any and All Tender Offer was made on the terms and subject to the conditions set out in the Offer to Purchase dated 27 October 2016 (the "Offer to Purchase") and the related notice of guaranteed delivery.

Capitalised 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, $3,296,365,000 in aggregate principal amount of the Any and All Notes listed in the table below were validly tendered and not validly withdrawn by 5:00 p.m., New York City time, on 3 November 2016 (the "Any and All Expiration Deadline"), as more fully set forth below. The Offeror has accepted all Any and All Notes that were validly tendered and not validly withdrawn prior to the Any and All Expiration Deadline. The Any and All Settlement Date is expected to be 8 November 2016. In addition, $18,907,000 in aggregate principal amount of the Any and All Notes were tendered using the guaranteed delivery procedures.

The table below sets forth, among other things, the principal amount of each series of Any and All Notes validly tendered and not validly withdrawn at or prior to the Any and All Expiration Deadline:

Any and All Notes	ISIN/CUSIP	Principal Amount Outstanding	Aggregate Principal Amount Tendered(1)	Aggregate Principal Amount Tendered Using Guaranteed Delivery Procedures	Any and All Consideration(2)
1.750% Senior Notes due 2018 (Series 1)	US53944VAC37 53944VAC3	$1,000,000,000	$682,820,000	$2,825,000	$1,004.38
1.750% Senior Notes due 2018 (Series 2)	US53944VAG41 53944VAG4	$1,250,000,000	$812,018,000	$320,000	$1,004.90
2.350% Senior Notes due 2019 (Series 3)	US53944VAB53 53944VAB5	$1,000,000,000	$533,848,000	N/A	$1,018.82
2.400% Senior Notes due 2020 (Series 4)	US53944VAE92 53944VAE9	$1,000,000,000	$532,901,000	$200,000	$1,020.21
3.500% Senior Notes due 2025 (Series 5)	US53944VAH24 53944VAH2	$1,250,000,000	$734,778,000	$15,562,000	$1,067.41

        (1)    Excluding principal amounts of Any and All Notes tendered using guaranteed delivery procedures.

        (2)    Per $1,000 in principal amount of Any and All Notes accepted for purchase.

FURTHER INFORMATION

Lucid Issuer Services Limited acted as tender agent for the Any and All Tender Offer. Lloyds Bank plc acted as Global Co-Ordinator and Joint Dealer Manager, and BNP Paribas Securities Corp., Deutsche Bank Securities Inc. and UBS Limited acted as Joint Dealer Managers for the Any and All Tender Offer. Questions regarding the Any and All Tender Offer should be directed to Lloyds Bank plc at [phone] (U.S. Toll-Free), [phone] (U.S. Collect) or [phone] (Europe); BNP Paribas Securities Corp. at [phone] (U.S. Toll-Free), [phone] (U.S. Collect) or [phone] (Europe); Deutsche Bank Securities at [phone] (U.S. Toll-Free), [phone] (U.S. Collect) or [phone] and UBS Limited at [phone] (U.S. Toll-Free), [phone] (U.S. Collect) or [phone] (Europe).

Concurrent Non-U.S. Offer

On 27 October 2016, the Offeror also launched an exchange offer (the "Non-U.S. Offer") in respect of certain of Lloyds Bank's outstanding euro-denominated debt securities. This announcement does not relate to the Non-U.S. Offer.

Investor Relations

Andrew Downey                                        Email: [e-mail]

Director, Investor Relations                      Telephone: [phone]

 

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