Results of SCPLC and SCB Tender Offer

RNS Number : 1352R

Standard Chartered PLC

12 June 2018

 

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

Standard Chartered PLC
Standard Chartered Bank
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.

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results of the Offers, including the aggregate nominal amount of each series of Notes validly tendered and not validly withdrawn by the Expiration Deadline, all of which are to be accepted for repurchase, and the relevant Repurchase Price payable for each Integral Multiple in nominal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 For information by telephone: [phone] Attention: Liability Management Group Email: liability.management @lloydsbanking.com

Standard Chartered Bank One Basinghall Avenue London EC2V 5DD United Kingdom For information by telephone: [phone] Attention: Liability Management Group Email: [e-mail]

UBS Limited 5 Broadgate London EC2M 2QS United Kingdom For information by telephone: [phone] Attention: Liability Management Group Email: [e-mail]

The Information and Tender Agent

In London: D.F. King Ltd. 125 Wood Street London EC2V 7AN United Kingdom Telephone: [phone]	In Hong Kong: D.F. King Ltd. Suite 1601, 16/F, Central Tower 28 Queen's Road Central Central Hong Kong Telephone: [phone]
Email: [e-mail] Website: https://sites.dfkingltd.com/scb

 

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