3rd Dec 2013 10:50
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (THE "UNITED STATES") OR TO ANY U.S. PERSON.
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3 December 2013
Bank of Scotland plc announces the results of its tender offers for certain Euro and Sterling Covered Bonds for cash
On 25 November 2013, Bank of Scotland plc (the "Offeror") invited all Holders of the Covered Bonds listed below (subject to the invitation restrictions set out in the Tender Offer Memorandum (as defined below)) to tender any and all of their Covered Bonds for purchase by the Offeror for cash (the "Offers").
The Offers were made upon the terms and subject to the conditions contained in the tender offer memorandum dated 25 November 2013 (the "Tender Offer Memorandum").
This announcement is made in accordance with the Tender Offer Memorandum. Capitalised terms used and not otherwise defined in this announcement have the meaning given in the Tender Offer Memorandum.
The Offeror hereby announces (i) the aggregate principal amount of each Series of Covered Bonds accepted for purchase pursuant to the relevant Offer being all of the Covered Bonds of such Series validly tendered (the "Series Acceptance Amount"), (ii) in respect of the Yield-based Covered Bonds, the relevant Reference Yield, Repurchase Yield and Purchase Price and (iii) the relevant Accrued Interest Payment.
Title of Security | ISIN Number | Series Acceptance Amount | Principal Amount Outstanding following the Offers | Reference Yield | Repurchase Yield | Purchase Price | Accrued Interest Payment per thousand Principal Amount |
€2,000,000,000 3.875 per cent. Covered Bonds due January 2014 | XS0275093473 | €861,942,000 | €1,138,058,000 | - | 0 per cent. | €1,004.25 per €1,000 in aggregate principal amount | €34.50 |
€2,000,000,000 4.25 per cent. Covered Bonds due September 2014 | XS0201674594 | €911,200,000 | €1,088,800,000 | 0.075 per cent. | 0.075 per cent. | €1,033.26 | €8.62 |
£500,000,000 Fixed to Floating Rate Covered Bonds due December 2014 | XS0208047778 | £205,650,000 | £110,350,000 | - | n.a. | £1,000.77 per £1,000 in aggregate principal amount | £1.36 |
€2,000,000,000 4.75 per cent. Covered Bonds due January 2015 | XS0327502224 | €1,145,677,000 | €854,323,000 | 0.074 per cent. | 0.074 per cent. | €1,053.25 | €40.86 |
Payment of the relevant Purchase Price and Accrued Interest Payment in respect of Covered Bonds validly tendered in the Offers and accepted for purchase is expected to be made on 6 December 2013.
For further information please contact:
For analysts:
Charles King
Director of Investor Relations
Lloyds Banking Group
+44 207 356 3537
For press:
Matt Smith
Media Relations
+44 207 356 3522
Holders are advised to read carefully the Tender Offer Memorandum for full details of, and information on, the Offers. Requests for information in relation to the Offers should be directed to the Dealer Managers and/or the Tender Agent:
DEALER MANAGERS
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BNP Paribas 10 Harewood Avenue London NW1 6AA United Kingdom
In Europe Tel: +44 20 7595 8668 Attention: Liability Management Group email: [email protected]
| Lloyds Bank plc 10 Gresham Street London EC2V 7AE United Kingdom
In Europe Tel: +44 20 7158 3981 Attention: Liability Management Group email: [email protected] |
TENDER AGENT
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Lucid Issuer Services Limited Leroy House 436 Essex Road London N1 3QP United Kingdom Tel: +44 20 7704 0880 Fax: +44 20 7067 9098 Attention: Sunjeeve Patel/Paul Kamminga email: [email protected]
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This announcement must be read in conjunction with 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.
Related Shares:
63GF.L