17 Mar 2010 11:06
LEEDS BUILDING SOCIETY £40,000,000 FIXED RATE SUBORDINATED NOTES DUE 2015 (ISIN: XS0214323429)
Leeds Building Society ("Leeds") announces today that it has accepted for purchase £38,639,000 in aggregate nominal amount of its £40,000,000 Fixed Rate Subordinated Notes due 2015 (of which £39,500,000 in aggregate nominal amount is currently outstanding) (the "Notes") pursuant to an invitation to holders of the Notes to offer any or all of their Notes for purchase by Leeds for cash (the "Invitation") which was made on the terms and subject to the conditions contained in an announcement dated 10 March 2010 (the "Announcement"). Capitalised terms used but not otherwise defined in this announcement shall have the meaning given to them in the Announcement.
The Invitation expired at 3.00 p.m. (London time) on 16 March 2010.
All Notes validly offered for purchase have been accepted in full at a price of £910 per £1,000 in nominal amount of the Notes (the "Purchase Price"), together with accrued and unpaid interest from and including 9 March 2010 to (but excluding) the Settlement Date ("Accrued Interest").
All Notes so purchased by Leeds will be cancelled.
The applicable Purchase Price, together with Accrued Interest, will be paid to holders of Notes whose Notes have been accepted for purchase by Leeds. Settlement is expected to occur on 19 March 2010.
Following settlement, the aggregate nominal amount of the Notes outstanding and not held by Leeds is expected to be £861,000, representing approximately 2.15 per cent. of the aggregate nominal amount of the Notes at the date of issue.
This announcement does not constitute an offer to purchase any securities or a solicitation of an offer to sell any securities.
For further information please contact Commerzbank Aktiengesellschaft on +44 207 475 4974 or by email at liability.management@commerzbank.com.
Dated 17 March 2010