9th Jul 2012 14:52
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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9 July 2012, 2.40 p.m.
Lloyds TSB Bank plc cash tender offer on certain euro and pounds sterling securities: announcement of pricing information and final results
On 28 June 2012, Lloyds TSB Bank plc (the "Issuer") invited Holders of the securities listed below (the "Securities") to tender their Securities for cash purchase (the "Offers") on the terms of and subject to the Maximum Offer Amount and the other conditions contained in a tender offer memorandum dated 28 June 2012 (the "Tender Offer Memorandum").
Capitalised terms not otherwise defined in this announcement have the same meaning as assigned to them in the Tender Offer Memorandum.
Further to such invitation, the Issuer announced the Clearing Spread and indicative Series Acceptance Amount in respect of each Series of Securities at 10.50 a.m. (London time) today, 9 July 2012.
The Issuer hereby informs Holders that the Reference Yield, Repurchase Yield, Purchase Price, Accrued Interest; and final Series Acceptance Amount in respect of each Series of Securities has been set as specified in the table below. The Issuer has elected to increase the Maximum Offer Amount in accordance with the conditions contained in the Tender Offer Memorandum to £1,442,000,000.
Title of Security | ISIN Numbers | Principal Amount Outstanding | Reference Benchmark | Clearing Spread | Reference Yield | Repurchase Yield | Purchase Price[†] | Series Acceptance Amount | Accrued Interest[‡] |
€982,549,000 6.25 per cent. Notes due April 2014 | XS0422704238 | €982,549,000 | Applicable Interpolated Mid-Swap Rate | +90 basis points | 0.843% | 1.743% | €1,077.43 | €306,693,000 | €14.90 |
€1,500,000,000 4.50 per cent. Notes due September 2014 | XS0604400001 | €1,500,000,000 | Applicable Interpolated Mid-Swap Rate | +90 basis points | 0.773% | 1.673% | €1,059.98 | €503,203,000 | €36.89 |
€1,250,000,000 3.75 per cent. Notes due September 2015 | XS0539845171 | €1,250,000,000 | Applicable Interpolated Mid-Swap Rate | +135 basis points | 0.846% | 2.196% | €1,046.87 | €232,435,000 | €31.56 |
€2,000,000,000 6.375 per cent Notes due June 2016 | XS0435070288 | €2,000,000,000 | Applicable Interpolated Mid-Swap Rate | +200 basis points | 0.945% | 2.945% | €1,125.63 | €295,929,000 | €4.19 |
£400,000,000 6.75 per cent. Notes due October 2018 | XS0395139354 | £400,000,000 | 5 per cent. UK Treasury Gilt due March 2018 | +314 basis points | 0.778% | 3.918% | £1,156.38 | £174,150,000 | £14.39 |
€1,500,000,000 5.375 per cent. Notes due September 2019 | XS0449361350 | €1,500,000,000 | Applicable Interpolated Mid-Swap Rate | +200 basis points | 1.472% | 3.472% | €1,118.53 | €259,259,000 | €45.82 |
FURTHER INFORMATION
Lucid Issuer Services Limited has been appointed by the Issuer as Tender Agent (the "Tender Agent") for the purposes of the Offers.
Deutsche Bank AG, London Branch and Lloyds TSB Bank plc (acting through Lloyds Bank) have been appointed by the Issuer as Dealer Managers (the "Dealer Managers") for the purposes of the Offers.
For further information please contact:
For press:
Nicole Sharp
Media Relations
+44 207 356 2120
For analysts:
Frederik VerpoestDirector of Investor RelationsLloyds Banking Group+44 207 356 2385+44 750 948 4949
Requests for information in relation to the Offers should be directed to:
DEALER MANAGERS
Deutsche Bank AG, London BranchWinchester House1 Great Winchester StreetLondon EC2N 2DBUnited KingdomTel: +44 20 7545 8011Attention: Liability Management Groupemail: [email protected] | Lloyds TSB Bank plcLloyds Bank10 Gresham StreetLondon EC2V 7AEUnited KingdomTel: +44 20 7158 3981Attention: Liability Management Groupemail: [email protected] |
TENDER AGENT
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Lucid Issuer Services LimitedLeroy House436 Essex RoadLondon N1 3QPUnited KingdomTel: +44 (0) 20 7704 0880Attention: Sunjeeve Patel / David Shilson / Thomas Choquet / Paul KammingaEmail: [email protected]
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DISCLAIMER
This announcement must be read in conjunction with the Tender Offer Memorandum. This announcement and the Tender Offer Memorandum contain important information which must be read carefully before any decision is made with respect to the Offers. If any Holder is in any doubt as to the action it should take, it is recommended to seek its own legal, tax, accounting and financial advice, including as to any tax consequences, from its stockbroker, bank manager, solicitor, accountant or other independent financial adviser. Any individual or company whose Securities are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee must contact such entity if it wishes to participate in the Offers. None of the Issuer, the Dealer Managers, the Tender Agent and any person who controls, or is a director, officer, employee or agent of such persons, or any affiliate of such persons, makes any recommendation as to whether Holders should participate in the Offers.
[†] Per €1,000 or £1,000 principal amount, as applicable.
[‡] Per €1,000 or £1,000 principal amount, as applicable, for the purposes of illustration only.
Related Shares:
Lloyds