4 Jun 2014 11:49
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
charles.king@finance.lloydsbanking.com
+44 207 356 3537
For press:
Matt Smith
Media Relations
matt.smith@lloydsbanking.com
+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: liabilitymanagement.europe@citi.com
| Lloyds Bank plc 10 Gresham Street London EC2V 7AE United Kingdom
Tel: +44 20 7158 2720 Attention: Liability Management Group email: liability.management@lloydsbanking.com |
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: bos@lucid-is.com
|
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.