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Land Securities holders tender £268.79 million 5.292% notes due 2015
By Angela McDaniels
Tacoma, Wash., Dec. 8 - LS Property Finance Co. Ltd. received tenders for £268,789,000 principal amount of Land Securities Capital Markets plc's £391,515,000 outstanding principal amount of class A2 5.292% notes due 2015, according to a company news release.
Holders will receive £1,082.39 per £1,000 principal amount of notes plus accrued interest up to but excluding the settlement date, which was expected to be Dec. 8.
The purchase price was set at 5 a.m. ET on Dec. 3 based on the 4.5% U.K. Treasury gilt due March 2013 plus 140 basis points.
The offer began Nov. 25 and ended at noon ET on Dec. 2.
The dealer managers were BNP Paribas (+44 0 20 7595 8668 or liability.management@bnpparibas.com), Lloyds TSB Bank plc (+44 0 20 7158 3981 or liability.management@lloydsbanking.com) and Royal Bank of Scotland plc (+44 020 7085 8056/5991, attn: Andrew Burton/Ally Richardson, or liabilitymanagement@rbs.com). Deutsche Bank AG, London Branch (+44 0 20 7547 5000 or xchange.offer@db.com) was the tender agent.
Land Securities is a London-based real estate investment trust.
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