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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Lloyds Banking Group Plc | LSE:LLOY | London | Ordinary Share | GB0008706128 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
1.10 | 2.15% | 52.30 | 52.22 | 52.26 | 52.60 | 51.08 | 51.12 | 196,599,014 | 16:35:12 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Commercial Banks, Nec | 23.74B | 5.46B | 0.0859 | 6.08 | 33.21B |
TIDMLLOY
RNS Number : 9506O
Lloyds Banking Group PLC
12 February 2016
12 February 2016
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (THE "UNITED STATES") OR TO ANY U.S. PERSON.
(SEE "OFFER AND DISTRIBUTION RESTRICTIONS" BELOW)
LBG CAPITAL NO. 1 PLC AND LBG CAPITAL NO. 2 PLC ANNOUNCE RESULTS OF THEIR CASH TENDER OFFERS ON CERTAIN EURO AND STERLING SECURITIES
On 29 January 2016:
(i) LBG Capital No. 1 plc ("LBG 1") invited Holders of certain of its euro denominated Enhanced Capital Notes (the "LBG 1 Existing Notes") to tender any and all of their LBG 1 Existing Notes for purchase by LBG 1 for cash (the "LBG 1 Offers"); and
(ii) LBG Capital No. 2 plc ("LBG 2" and, together with LBG 1, the "Offerors" and each an "Offeror") invited Holders of certain of its euro and sterling denominated Enhanced Capital Notes (the "LBG 2 Existing Notes" and together with the LBG 1 Existing Notes, the "Existing Notes") to tender any and all of their LBG 2 Existing Notes for purchase by LBG 2 for cash (the "LBG 2 Offers" and, together with the LBG 1 Offers, the "Offers").
The Offers were made upon the terms and subject to the conditions contained in the tender offer memorandum dated 29 January 2016 as amended by an announcement made on 9 February 2016 (the "Tender Offer Memorandum").
This announcement is made in accordance with 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.
The Offerors hereby announce that they will accept for purchase all Notes validly tendered under the relevant Offers (c. 730m Sterling equivalent). The below table sets out the results of the Offers.
Accrued Amount Interest Outstanding Payment Following per Make Series Settlement thousand Whole Make Title of Acceptance of the Principal Redemption Whole Purchase Security Issuer ISIN Number Amount Offers Amount Price Premium Price ----------------- -------- --------------- ----------------- ----------------- ----------- ----------- -------- ------------- EUR486,527,000 EUR1,389.33 15.000 per per cent. Enhanced EUR1,000 Capital in Notes due aggregate December LBG 136.933 principal 2019 2 XS0459089412 EUR165,321,000 EUR321,206,000 EUR10.30 % 2 % amount EUR125,330,000 8.875 per cent. Enhanced EUR1,020 Capital per EUR1,000 Notes due in aggregate February LBG principal 2020 2 XS0459087986 EUR31,646,000 EUR93,684,000 EUR1.94 N/A N/A amount EUR53,040,000 Floating EUR1,020 Rate Enhanced per EUR1,000 Capital in aggregate Notes due LBG principal March 2020 1 XS0459090931 EUR46,603,000 EUR6,437,000 EUR5.21 N/A N/A amount EUR94,737,000 7.375 per EUR1,020 cent. Enhanced per EUR1,000 Capital in aggregate Notes due LBG principal March 2020 1 XS0459090774 EUR24,675,000 EUR70,062,000 EUR68.51 N/A N/A amount EUR661,955,000 6.385 per EUR1,020 cent. Enhanced per EUR1,000 Capital in aggregate Notes due LBG principal May 2020 2 XS0459088794 EUR260,202,000 EUR353,911,000 EUR48.67 N/A N/A amount EUR226,172,000 7.625 per cent. Enhanced EUR1,020 Capital per EUR1,000 Notes due in aggregate October LBG principal 2020 1 XS0459091236 EUR133,863,000 EUR92,309,000 EUR25.83 N/A N/A amount GBP775,158,000 15.000 per cent. Enhanced GBP1,342.90 Capital per GBP1,000 Notes due in aggregate December LBG 132.290 principal 2019 2 XS0459089255 GBP185,877,000 GBP517,588,000 GBP10.30 % 2 % amount GBP67,853,000 15.000 per cent. Enhanced GBP1,753.38 Capital per GBP1,000 Notes due in aggregate January LBG 173.338 principal 2029 2 XS0459089685 GBP48,061,000 GBP19,792,000 GBP10.30 % 2 % amount
Settlement Date
Settlement of the relevant Purchase Price and Accrued Interest Payment in respect of the Existing Notes validly tendered in the Offers and accepted for purchase is expected to be made on 15 February 2016. Following settlement of the Offers, the Offerors intend to cancel any Existing Notes purchased pursuant to the Offers.
Regulatory Call Right
The Offerors further announced on 29 January 2016 that they had released call notices in respect of certain of their euro, sterling and U.S. dollar denominated Enhanced Capital Notes exercising their right to redeem those ECNs (a "Regulatory Call Right") following a Capital Disqualification Event (as defined in the terms and conditions of the ECNs) ("CDE"). The redemption of these securities occurred on 9 February 2016.
The Offerors hereby confirm that, following settlement of the Offers, they will redeem all the Existing Notes which remain outstanding, as set out in the table above in the column entitled "Amount Outstanding Following Settlement of the Offers". The redemption of such Existing Notes is expected to occur on 29 February 2016 or, in the case of the EUR53,040,000 Floating Rate Enhanced Capital Notes due March 2020 (ISIN: XS0459090931), on the next scheduled interest payment date, being 14 March 2016.
(MORE TO FOLLOW) Dow Jones Newswires
February 12, 2016 07:44 ET (12:44 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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