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Lloyds Banking Group (LLOY)

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Wednesday 04 June, 2014

Lloyds Banking Group

Tender Offer Results

RNS Number : 8322I
Lloyds Banking Group PLC
04 June 2014
 

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (THE "UNITED STATES") OR TO ANY U.S. PERSON.

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4 June 2014

Bank of Scotland plc and Lloyds Bank plc announce the results of their tender offers for certain Euro and Sterling Covered Bonds

On 27 May 2014, Bank of Scotland plc and Lloyds Bank plc (together, the "Offerors") invited all Holders of the Covered Bonds listed below (subject to the invitation restrictions set out in the Tender Offer Memorandum (as defined below)) to tender any and all of their Covered Bonds for purchase by the relevant Offeror for cash (the "Offers").

The Offers were made upon the terms and subject to the conditions contained in the tender offer memorandum dated 27 May 2014 (the "Tender Offer Memorandum").

This announcement is made in accordance with the Tender Offer Memorandum. Capitalised terms used and not otherwise defined in this announcement have the meanings given in the Tender Offer Memorandum.

The Offerors hereby announce (i) the aggregate principal amount of each Series of Covered Bonds accepted for purchase pursuant to the relevant Offer being all of the Covered Bonds of such Series validly tendered (the "Series Acceptance Amount"), (ii) in respect of the Euro Covered Bonds, the relevant Reference Yield, Repurchase Yield and Purchase Price and (iii) the relevant Accrued Interest Payment.

Title of Security

ISIN Number

 

 

 

Series Acceptance Amount

Principal Amount Outstanding following the Offers

Reference Yield

Repurchase Yield

Purchase Price

Accrued Interest Payment per thousand Principal Amount

£500,000,000 Fixed to Floating Rate Covered Bonds due December 2014 issued by Bank of Scotland plc

 

XS0208047778

 

£0

 

£110,350,000

 

N/A

 

N/A

 

N/A

 

N/A

€2,000,000,000 4.75 per cent. Covered Bonds due January 2015 issued by Bank of Scotland plc

 

XS0327502224

 

€448,463,000

 

€405,860,000

 

0.021%

 

0.021%

 

102.979%

 

€17.57

€1,500,000,000 Series 2010-1 Fixed Rate Covered Bonds due March 2015 issued by Lloyds Bank plc

 

XS0482808465

 

623,870,000

 

876,130,000

 

0.049%

 

0.049%

 

102.550%

 

€7.86

 

Payment of the relevant Purchase Price and Accrued Interest Payment in respect of Covered Bonds validly tendered in the Offers and accepted for purchase is expected to be made on 10 June 2014.

 

For further information please contact:

For analysts:

 

Charles King

Investor Relations Director

Lloyds Banking Group

[email protected]

+44 207 356 3537

 

For press:

 

Matt Smith

Media Relations

[email protected]

+44 207 356 3522

 

Holders are advised to read carefully the Tender Offer Memorandum for full details of, and information on, the Offers. Requests for information in relation to the Offers should be directed to the Dealer Managers and/or the Tender Agent:

DEALER MANAGERS

 

Citigroup Global Markets Limited

Citigroup Centre

Canada Square

London E14 5LB

United Kingdom

Tel: +44 20 7986 8969

Attention: Liability Management Group

email: [email protected]

 

Lloyds Bank plc

10 Gresham Street

London EC2V 7AE

United Kingdom

 

Tel: +44 20 7158 2720

Attention: Liability Management Group

email: [email protected]

 

TENDER AGENT

 

Lucid Issuer Services Limited

Leroy House

436 Essex Road

London N1 3QP

United Kingdom

Tel: +44 20 7704 0880

Fax: +44 20 7067 9098

Attention: Sunjeeve Patel/Paul Kamminga

email: [email protected]

 

 

This announcement must be read in conjunction with the Tender Offer Memorandum.

This announcement does not constitute an offer or an invitation to participate in the Offers in the United States or in any other jurisdiction in which, or to any person to or from whom, it is unlawful to make such offer or invitation or for there to be such participation under applicable laws.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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