1st Feb 2007 07:01
Land Securities Group Plc01 February 2007 1 February 2007 LAND SECURITIES GROUP PLC ('Land Securities' / 'Group') Land Securities to issue £500m bond Land Securities today announces the pricing of a Sterling denominated eurobond(the "Notes"), documented under the Land Securities Capital Markets PLC £6billion Multicurrency Note Programme dated 18 September 2006. Land SecuritiesCapital Markets PLC is the bond issuing vehicle for the Group funding structure,established in November 2004. The Notes have a £500 million principal amount paying 5.125% interestsemi-annually. The issue price is 99.898% with an expected maturity date of 7February 2034 and legal final maturity of 7 February 2036. 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. Citigroup, JPMorgan Cazenove and Royal Bank of Scotland are acting as Joint LeadManagers for the issue of the Notes. Barclays Capital, BNP Paribas, Commerzbank,HSBC and Lloyds TSB 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 info, please contact: Martin Wood Sean WestGroup Tax & Treasury Director TreasurerLand Securities Group PLC Land Securities Group PLCT +44 (0) 20 7024 5449 T +44 (0) 20 7024 5213 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Land Securities