Lloyds prices tender offer for five series of dollar-denominated notes

By Sarah Lizee

Olympia, Wash., May 18 – Lloyds Bank plc announced pricing for its tender offer to purchase for cash any and all of five series of senior notes, according to a press release.

The following notes are included in the tender offer:

• $1 billion 2.7% senior notes due 2020 (Cusip: 53944VAK5) for a purchase price of $1,005.50 per $1,000 note;

• $1,196,381,000 3.3% senior notes due 2021 (Cusip: 53944VAP4) with pricing set using the 0.125% U.S. Treasury due April 30, 2022 plus 65 basis points for a purchase price of $1,023.60 per $1,000 note;

• $856,988,000 floating-rate notes due 2021 (Cusip: 53944VAQ2) for a purchase price of $1,000 per $1,000 note;

• $1,388,265,000 2.25% senior notes due 2022 (Cusip: 53944VAS8) with pricing set using the 0.125% U.S. Treasury due April 30, 2022 plus 85 bps for a purchase price of $1,026.85 per $1,000 note; and

• $415,188,000 3.5% senior notes due 2025 (Cusip: 53944VAH2) with pricing set using the 0.375% U.S. Treasury due April 30, 2025 plus 130 bps for a purchase price of $1,088.20 per $1,000 note.

Pricing was determined at 11 a.m. ET on May 18.

Holders will also receive accrued interest.

The offer was set to expire at 5 p.m. ET on May 18. Settlement is expected for May 21.

Tenders may be withdrawn prior to the expiration time.

Lucid Issuer Services Ltd. (+44 20 7704 0080, lloydsbank@lucid-is.com) is the tender agent.

The joint dealer managers are J.P. Morgan Securities LLC (866 834-4666, 212 834-8553) and Lloyds Securities Inc. (212 284-0411, liability.management@lloydsbanking.com).

Concurrently with this tender offer, Lloyds Bank is launching a tender offer for some of its outstanding euro- and pound sterling-denominated debt securities.

Lloyds is a bank and financial services group based in London.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.