28th Oct 2005 14:04
Land Securities Group Plc28 October 2005 28 October 2005 LAND SECURITIES GROUP PLC ("Land Securities" / "the Group")Land Securities issues £400m 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 £400 million principal amount paying 4.875% interestsemi-annually. The issue price is 99.551% with an expected maturity date of 7November 2017. The offer is expected to close around 7 November 2005. Both Fitch Ratings and Standard and Poor's have indicated that the Notes will beAA rated, although preliminary ratings have not yet been assigned. Proceedsfrom the Notes will be used to repay existing bank borrowings that are currentlydrawn under the structure's secured bank facility. Issuance of the new Noteswill not affect the ratings of the existing Land Securities Capital Markets PLCbonds which are also AA/AA rated. The Notes are secured against an asset pool which was valued at £7.7 billion at28 September 2005. Citigroup, HSBC and Royal Bank of Scotland acted as JointBookrunners for the new issue. 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. - End - For further information, please contact: Land Securities Group PLCMartin Wood Sean West Jennifer van der EemGroup Tax & Treasury Director Treasurer Investor Relations Manager+44 (0) 20 7024 5449 +44 (0) 20 7024 5213 +44 (0) 20 7024 5185 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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