TIDM94WP
RNS Number : 3883N
Lloyds Bank PLC
19 May 2020
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO
ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS
TERRITORIES AND POSSESSIONS , ANY STATE OF THE UNITED STATES OF
AMERICA OR THE DISTRICT OF COLUMBIA (THE "UNITED STATES") OR INTO
ANY OTHER JURISDICTION OR TO ANY OTHER PERSON WHERE OR TO WHOM IT
IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT.
LLOYDS BANK PLC ANNOUNCES PRICING, ACCEPTANCE AND FINAL RESULTS
OF ITS TENDER OFFERS IN RELATION TO CERTAIN STERLING AND EURO
NOTES
19 May 2020
Further to the indicative results announcement made earlier
today, Lloyds Bank plc (the "Offeror") hereby announces the
pricing, acceptance and final results of its invitations to all
Holders of the Notes set out in the table below to tender their
outstanding Notes for purchase by the Offeror for cash up to a
maximum aggregate nominal amount to be determined by the Offeror in
its sole and absolute discretion (being the Maximum Acceptance
Amount) (each such invitation an "Offer" and, together, the
"Offers").
The Offers were announced on 11 May 2020 and were made subject
to the offer and distribution restrictions set out in the tender
offer memorandum dated 11 May 2020 (the "Tender Offer Memorandum").
Capitalised terms not otherwise defined in this announcement have
the same meaning as assigned to them in the Tender Offer
Memorandum.
PRICING, ACCEPTANCE AND FINAL RESULTS
The Offeror hereby announces that (i) the Maximum Acceptance
Amount is equal to GBP486,755,563 and (ii) it accepts valid tenders
of each Series of Notes pursuant to the Offers in an aggregate
nominal amount equal to the relevant Series Acceptance Amount as
set out in the table below.
As stated in the indicative results announcement, the pricing
took place at around 2.00 p.m. London time today in the manner
described in the Tender Offer Memorandum. The final pricing details
are set out below:
Aggregate Series Acceptance
Nominal Amount Series Amount (Sterling
Validly Pro-ration Acceptance equivalent converted Reference Repurchase Purchase
Title of Security ISIN Number Tendered Factor Amount at the Euro FX Rate) Yield Yield(*) Price
------------------ -------------- --------------- ----------- --------------- --------------------- ---------- ----------- ---------
Sterling Notes
GBP250,000,000
2.500 per cent.
Notes due June
2022 XS1239389684 GBP36,473,000 n.a. GBP36,473,000 n.a. 0.020% 1.023% 102.953%
Euro Notes
EUR1,500,000,000
1.000 per cent.
Notes due
November 2021 XS1139091372 EUR409,038,000 n.a. EUR409,038,000 GBP364,268,791 -0.241% 0.259% 101.106%
EUR1,250,000,000
1.375 per cent.
Notes due
September 2022 XS1280783983 EUR96,585,000 n.a. EUR96,585,000 GBP86,013,772 -0.274% 0.476% 102.051%
______________
* On an annualised basis.
TOTAL CONSIDERATION
The total amount that will be paid to each Holder on the
Settlement Date for the Notes validly submitted for tender and
accepted for purchase by the Offeror will be an amount in cash
equal to:
(i) the relevant Purchase Price for the Notes, multiplied by
each Authorised Denomination in aggregate nominal amount of such
Notes (rounded to the nearest EUR0.01 or GBP0.01, as applicable,
with EUR0.005 or GBP0.005 being rounded upwards); plus
(ii) any Accrued Interest Payment payable in respect of the relevant Notes.
SETTLEMENT DATE
The Settlement Date is expected to be 21 May 2020.
FURTHER INFORMATION
This announcement contains inside information in relation to the
Notes and is disclosed in accordance with the Market Abuse
Regulation (EU) 596/2014 ("MAR"). For the purposes of MAR, this
announcement is made by Douglas Radcliffe, Group Investor Relations
Director.
For further information please contact:
Investor Relations:
Douglas Radcliffe
Group Investor Relations Director
Telephone: +44 (0)20 7356 1571
Email: Douglas.Radcliffe@LloydsBanking.com
Corporate Affairs:
Matthew Smith
Head of Media Relations
Tel: +44 (0) 20 7356 3522
Email: matt.smith@lloydsbanking.com
Requests for information in relation to the Offers should be
directed to:
JOINT DEALER MANAGERS
J.P. Morgan Securities plc Lloyds Bank Corporate Markets
25 Bank Street plc
Canary Wharf 10 Gresham Street
London E14 5JP London EC2V 7AE
United Kingdom United Kingdom
Telephone: +44 20 7134 2468 Tel: +44 20 7158 1726 / 1719
Attention: Liability Management Attention: Liability Management
email: liability_management_EMEA@jpmorgan.com Group
email: liability.management@lloydsbanking.com
Requests for information in relation to, and for any documents
or materials relating to, the Offers should be directed to:
TENDER AGENT
Lucid Issuer Services Limited
Tankerton Works
12 Argyle Walk
London WC1H 8HA
United Kingdom
Tel: +44 20 7704 0880
Attention: Arlind Bytyqi
email: lloydsbank@lucid-is.com
The Offeror launched, contemporaneously with the launch of the
Offers, offers to holders of five series of U.S. dollar denominated
notes issued by the Offeror. This announcement does not relate to
the U.S. Offer.
DISCLAIMER
This announcement must be read in conjunction with the
announcements relating to the Offers published via RNS on 11 May
2020 and 19 May 2020 and 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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
TENUKOSRRSUVAAR
(END) Dow Jones Newswires
May 19, 2020 10:36 ET (14:36 GMT)
Lloyds Bk (LSE:94WP)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Lloyds Bk (LSE:94WP)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024
