Lloyds Bank PLC Cash Tender Offer - Outstanding Senior Notes (0425J)

TIDM94WP TIDMLLOY

RNS Number : 0425J

Lloyds Bank PLC

07 April 2020

April 7, 2020

Lloyds Bank plc - RESULTS OF TENDER OFFER FOR CERTAIN OF ITS OUTSTANDING senior NOTES

Lloyds Bank plc (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 its U.S. dollar denominated senior notes set out in the table below (the "Notes"). The Offer was made on the terms and subject to the conditions set out in the Offer to Purchase dated March 30, 2020 (the "Offer to Purchase") and the related notice of guaranteed delivery.

Capitalized 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by the Tender Agent, $333,641,000 in aggregate principal amount of the Notes were validly tendered and not validly withdrawn by 5:00 p.m., New York City time, on April 6, 2020 (the "Expiration Deadline"), as more fully set forth below. The Offeror has accepted all Notes that were validly tendered and not validly withdrawn prior to the Expiration Deadline.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 April 9, 2020.

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below sets forth, among other things, the principal amount of each series of Notes validly tendered and not validly withdrawn at or prior to the Expiration Deadline:

 
                                                           Aggregate 
                                                           Principal 
                                                        Amount Tendered       Aggregate 
                                                           Excluding          Principal          Purchase 
                                                         Notes Tendered    Amount Tendered       Price Per 
                                                        Using Guaranteed   Using Guaranteed   $1,000 Principal 
                                     Principal              Delivery           Delivery          Amount of 
    Notes        ISIN/CUSIP     Amount Outstanding(1)      Procedures         Procedures           Notes 
--------------  -------------  ----------------------  -----------------  -----------------  ----------------- 
3.300% Senior 
   Notes due 
 2021 (Series 
      1)        US53944VAP40       $1,250,000,000         $53,619,000            $0              $1,000.34 
           53944VAP4 
   Floating 
  Rate Notes    US53944VAQ23       $1,000,000,000        $143,012,000            $0               $980.00 
    due 2021 
   (Series 2)     53944VAQ2 
2.250% Senior 
   Notes due 
 2022 (Series 
      3)        US53944VAS88       $1,500,000,000        $111,735,000            $0               $980.53 
           53944VAS8 
3.500% Senior 
   Notes due 
 2025 (Series 
      4)        US53944VAH24        $440,463,000          $25,275,000            $0              $1,009.76 
           53944VAH2 
 

_______________

   (1)            As of the commencement date of the Offer. 

FURTHER INFORMATION

Lucid Issuer Services Limited acted as tender agent for the Offer. J.P. Morgan Securities LLC and Lloyds Securities Inc. acted as Dealer Managers. Questions regarding the Offer should be directed to J.P. Morgan Securities LLC at [phone] (U.S. Toll-Free) or [phone] (U.S. Collect) or Lloyds Securities Inc. at [phone].

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 [e-mail] or visit www.rns.com.

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April 07, 2020 05:11 ET (09:11 GMT)