12th Jun 2018 12:36
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (INCLUDING PUERTO RICO, THE US VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), OR IN OR INTO ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION IS UNLAWFUL
Standard Chartered PLCStandard Chartered Bank 12 June 2018
ANNOUNCEMENT OF ACCEPTANCE AND RESULTS OF STANDARD CHARTERED PLC'S AND STANDARD CHARTERED BANK'S OFFERS TO REPURCHASE NOTES FOR CASH
On 4 June 2018, Standard Chartered PLC ("SCPLC" or the "Company" in respect of the SCPLC Notes) invited holders of its £900,000,000 5.125 per cent. Dated Subordinated Notes due 2034 (ISIN: XS1075419694) and its £750,000,000 4.375 per cent. Notes due 2038 (ISIN: XS0876756452) (together, the "SCPLC Notes") to tender their SCPLC Notes for repurchase by the Company for cash, subject to certain offer restrictions as contained in the section "Offer and Distribution Restrictions" of the Tender Offer Memorandum dated 4 June 2018 (the "Tender Offer Memorandum").
On 4 June 2018, Standard Chartered Bank ("SCB" or the "Company" in respect of the SCB Notes) invited holders of its £200,000,000 7.750 per cent. Undated Subordinated Step-Up Notes (first callable on 31 January 2022) (ISIN: XS0119816402) (the "SCB Notes") to tender their SCB Notes for repurchase by the Company for cash, subject to certain offer restrictions as contained in the section "Offer and Distribution Restrictions" of the Tender Offer Memorandum.
Further to the announcement made by the Companies on 4 June 2018, the Companies hereby announce that the results of the Offers, including the aggregate nominal amount of each series of Notes validly tendered and not validly withdrawn by the Expiration Deadline, all of which are to be accepted for repurchase, and the relevant Repurchase Price payable for each Integral Multiple in nominal amount in respect of each Series of Notes to be accepted for repurchase, are as set out in the following table.
Description of the Notes | Company | ISIN | Aggregate nominal amount tendered and accepted for repurchase | Outstanding nominal amount post settlement | Fixed Tender Spread | Reference Security | Reference Security Rate (per cent. per annum) | Repurchase Price (for each Integral Multiple in nominal amount) | Accrued Interest (for each Integral Multiple in nominal amount) |
£900,000,000 5.125 per cent. Dated Subordinated Notes due 2034 | SCPLC | XS1075419694 | £372,509,000 | £527,491,000 | 265 bps | 4.500 per cent. UK Treasury Gilt due September 2034 (ISIN: GB00B52WS153) | 1.772 per cent. | £1,073.55 per £1,000 | £1.12 per £1,000 |
£750,000,000 4.375 per cent. Notes due 2038 | SCPLC | XS0876756452 | £245,687,000 | £504,313,000 | 170 bps | 4.750 per cent. UK Treasury Gilt due December 2038 (ISIN: GB00B00NY175) | 1.824 per cent. | £1,119.66 per £1,000 | £17.77 per £1,000 |
£200,000,000 7.750 per cent. Undated Subordinated Step-Up Notes (first callable on 31 January 2022) | SCB | XS0119816402 | £99,140,000* | £35,360,000 | 140 bps | 4.00 per cent. UK Treasury Gilt due March 2022 (ISIN: GB00B3KJDQ49) | 0.884 per cent. | £11,875.40 per £10,000 | £288.47 per £10,000 |
*Including Notes with an outstanding nominal amount of £4,000,000 tendered by a member of Standard Chartered Group and accepted for repurchase.
Each Noteholder whose Notes have been accepted for repurchase is entitled to receive on the Settlement Date, which is expected to be 14 June 2018, the relevant Total Consideration, being the Repurchase Price plus Accrued Interest, in respect of such Notes.
Capitalised terms used and not otherwise defined in this announcement have the meanings given in the Tender Offer Memorandum.
For further information, please contact:
The Dealer Managers
Lloyds Bank Corporate Markets plc25 Gresham StreetLondon EC2V 7HNUnited KingdomFor information by telephone: +44 20 7158 1726Attention: Liability Management GroupEmail: [email protected] | Standard Chartered BankOne Basinghall AvenueLondon EC2V 5DDUnited Kingdom For information by telephone: +44 20 7885 5739Attention: Liability Management GroupEmail: [email protected] | UBS Limited5 BroadgateLondon EC2M 2QSUnited KingdomFor information by telephone:+44 20 7568 2133Attention: Liability Management GroupEmail: [email protected] |
The Information and Tender Agent
In London: D.F. King Ltd.125 Wood StreetLondon EC2V 7ANUnited KingdomTelephone: +44 20 7920 9700 | In Hong Kong: D.F. King Ltd.Suite 1601, 16/F, Central Tower28 Queen's Road CentralCentral Hong KongTelephone: +852 3953 7230 |
Email: [email protected]: https://sites.dfkingltd.com/scb | |
Related Shares:
Standard Chartered