Last checked at 21 Jun 2017 10:20
21 June 2017
Lloyds Bank plc - RESULTS OF TENDER OFFER FOR CERTAIN OF ITS OUTSTANDING USD NOTES
Lloyds Bank plc ("Lloyds Bank" or the "Offeror") is today announcing the final results of its previously announced cash tender offer (the "Offer") for any and all of certain series of outstanding U.S. dollar denominated notes issued by Lloyds Bank plc and guaranteed by Lloyds Banking Group plc (the "Notes"). The Offer was made on the terms and subject to the conditions set out in the Offer to Purchase dated 12 June 2017 (the "Offer to Purchase") and the related notice of guaranteed delivery.
Capitalised terms not otherwise defined in this announcement have the same meaning as in the Offer to Purchase.
Based on information provided by the Tender Agent, $257,235,000 in aggregate principal amount of the Notes listed in the table below were validly tendered and not validly withdrawn by 5:00 p.m., New York City time, on 20 June 2017 (the "Expiration Deadline"), as more fully set forth below. The Offeror has accepted all Notes that were validly tendered and not validly withdrawn prior to the Expiration Deadline. The Settlement Date is expected to be 23 June 2017. In addition, $1,175,000 in aggregate principal amount of the Notes were tendered using the guaranteed delivery procedures.
The table below sets forth, among other things, the principal amount of each series of Notes validly tendered and not validly withdrawn at or prior to the Expiration Deadline:
Notes | ISIN/CUSIP | Principal Amount Outstanding | Aggregate Principal Amount Tendered Excluding Notes Tendered Using Guaranteed Delivery Procedures | Aggregate Principal Amount Tendered Using Guaranteed Delivery Procedures | Purchase Price Per $1,000 Principal Amount of Notes |
2.350% Senior Notes due 2019 (Series 1) | US53944VAB53 53944VAB5 | $466,152,000 | $112,051,000 | $1,175,000 | $1,008.34 |
2.400% Senior Notes due 2020 (Series 2) | US53944VAE92 53944VAE9 | $466,899,000 | $70,425,000 | $0 | $1,009.03 |
3.500% Senior Notes due 2025 (Series 3) | US53944VAH24 53944VAH2 | $515,222,000 | $74,759,000 | $0 | $1,043.90 |
FURTHER INFORMATION
Lucid Issuer Services Limited acted as tender agent for the Offer. Lloyds Securities Inc. acted as Dealer Manager. Questions regarding the Offer should be directed to Lloyds Securities Inc. at +1 (855) 400-6511 (U.S. Toll-Free) or +1 (212) 827-3105 (U.S. Collect).
CONCURRENT NON-U.S. OFFER
On 12 June 2017, the Offeror also launched a capped tender offer (the "Non-U.S. Offer") in respect of certain of Lloyds Bank's outstanding euro and pound sterling denominated debt securities. This announcement does not relate to the Non-U.S. Offer.