27th Jan 2006 14:25
Land Securities Group Plc27 January 2006 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES LAND SECURITIES GROUP PLC ('Land Securities' / 'Group') Land Securities to issue £300m bond Land Securities today announces the pricing of a Sterling denominated eurobond(the "Notes"), documented under the Land Securities Capital Markets PLCMulticurrency Note Programme dated 28 September 2005. Land Securities CapitalMarkets PLC is the bond issuing vehicle for the Group funding structure,established in November 2004. The Notes have a £300 million principal amount paying 4.625% interestsemi-annually. The issue price is 99.458% with an expected maturity date of 3February 2011 and legal final maturity of 3 February 2013. Both Fitch Ratings Limited and Standard & Poor's Rating Services have indicatedthat the Notes will be rated AA. Proceeds from the Notes will be used to repayexisting bank borrowings that are currently drawn under the Group's secured bankfacility. Issuance of the new Notes will not affect the ratings of the existingLand Securities Capital Markets PLC bonds which are also rated AA by bothagencies. Barclays Capital, Citigroup and JPMorgan Cazenove are acting as Joint LeadManagers for the issue of the Notes. BNP Paribas, Calyon, HSBC, Lloyds TSB andRoyal Bank of Scotland are acting as Co-Managers. This press release does not constitute an offer for sale in the United States.In the absence of a registration pursuant to the US Securities Act of 1933neither the Notes nor the guarantees appertaining thereto may be publiclyoffered in the United States. No offering of the Notes will be made in theUnited States. This press release does not constitute an offer to sell or the solicitation ofan offer to buy the Notes. -Ends- For further information, please contact: Land Securities Group PLCMartin Wood, Group Tax & Treasury Director +44 (0) 20 7024 5449Sean West, Treasurer +44 (0) 20 7024 5213Jennifer van der Eem, Investor Relations Manager +44 (0) 20 7024 5185 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Land Securities