Land Securities Group Plc
22 September 2006
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION
IN WHOLE OR IN PART IN OR INTO THE UNITED STATES
22 September 2006
For immediate release
LAND SECURITIES GROUP PLC ('Land Securities' / 'Group')
Land Securities to issue £300m bond
Land Securities today announces the pricing of a Sterling denominated eurobond
(the 'Notes'), documented under the Land Securities Capital Markets PLC
Multicurrency Note Programme dated 18 September 2006. Land Securities Capital
Markets PLC is the bond issuing vehicle for the Group funding structure
established in November 2004.
The Notes have a £300 million principal amount paying 4.875% interest
semi-annually. The issue price is 99.270% with an expected maturity date of 29
September 2023 and legal final maturity of 29 September 2025.
Both Fitch Ratings Limited and Standard & Poor's Rating Services have indicated
that the Notes will be rated AA. Proceeds from the Notes will be used to repay
in part bank borrowings that are currently drawn under the Group's secured bank
facility. Issuance of the new Notes will not affect the ratings of the existing
Land Securities Capital Markets PLC bonds which are also rated AA by both
agencies.
Barclays Capital, BNP Paribas and HSBC are acting as Joint Lead Managers for the
issue of the Notes. Citigroup, Fortis, JPMorgan Cazenove, Mitsubishi UFJ
Securities International and Royal Bank of Scotland are acting as Co-Managers.
This press release does not constitute an offer for sale in the United States.
In the absence of a registration pursuant to the US Securities Act of 1933
neither the Notes nor the guarantees appertaining thereto may be publicly
offered in the United States. No offering of the Notes will be made in the
United States.
This press release does not constitute an offer to sell or the solicitation of
an offer to buy the Notes.
-Ends-
For further information, please contact:
Land Securities Group PLC
Martin Wood, Group Tax & Treasury Director +44 (0) 20 7024 5449
Sean West, Treasurer +44 (0) 20 7024 5213
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.