17 April 2014
RESULTS OF RETAIL TENDER OFFER FOR ENHANCED CAPITAL NOTES
Lloyds Banking Group plc (the Group) has today announced the results of its retail tender offer for Enhanced Capital Notes (ECNs), under which eligible retail holders of certain series of its Sterling ECNs were able to sell their holdings for cash (as announced on 20 March 2014).
ECNs totalling a nominal amount of approximately £58.5 million have been accepted for purchase into the tender offer. Settlement is expected to occur on or around 24 April 2014. Details of the issues accepted into the offer are given in a separate RNS issued today.
The Group has also accepted the equivalent of £5 billion of ECNs as part of separate exchange offers. These offers were announced on 6 March 2014 and are now closed. The equivalent of approximately £5.35 billion of new AT1 securities were issued under these offers.
For further information:
Investor Relations - Institutional Investors
Charles King +44 (0) 20 7356 3537
Investor Relations Director
Email: [email protected]
Corporate Affairs
Matthew Young +44 (0) 20 7356 2231
Group Corporate Affairs Director
Email: [email protected]
Intermediaries and Wealth Managers
Scott Harris Ltd
Stephen Scott +44 (0) 207 653 0030
Jeremy Wiseman
Email: [email protected]
Private Investors
Lucid Issuer Services Limited
Sunjeeve Patel / David Shilson / Victor Parzyjagla 0800 376 0832 /
+44 (0) 20 7704 0880
Email: [email protected]
DISCLAIMER
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities. Nothing in this communication constitutes an invitation to participate in the offers which were only made through the relevant offering documents or exchange offer memorandum or tender offer memorandum once published. The terms and conditions of the offers wereas set out in the relevant exchange offer memorandum or tender offer memorandum.
This announcement is neither an advertisement nor a prospectus. In any case, you should not rely on this announcement for any purpose in respect of the offers (including making a decision whether or not to participate in the offers). You should make your decision solely on the basis of a careful review of the information contained in the relevant offer documents.
The distribution of this announcement in certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes are required to inform themselves about and to observe any such restrictions.
The retail tender offer was not made, directly or indirectly, and the Sterling and Euro exchange offers were not made, directly or indirectly, in or into the United States or to US persons as defined in Regulation S of the US Securities Act of 1933, as amended.
FORWARD LOOKING STATEMENTS
This announcement contains forward looking statements with respect to the business, strategy and plans of the Lloyds Banking Group, its current goals and expectations relating to its future financial condition and performance. Statements that are not historical facts, including statements about the Group or the Group's management's beliefs and expectations, are forward looking statements. By their nature, forward looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will or may occur in the future. The Group's actual future business, strategy, plans and/or results may differ materially from those expressed or implied in these forward looking statements as a result of a variety of risks, uncertainties and other factors, including, but not limited to, UK domestic and global economic and business conditions; the ability to derive cost savings and other benefits, including as a result of the Group's Simplification programme; the ability to access sufficient funding to meet the Group's liquidity needs; changes to the Group's credit ratings; risks concerning borrower or counterparty credit quality; instability in the global financial markets, including Eurozone instability and the impact of any sovereign credit rating downgrade or other sovereign financial issues; market-related risks including, but not limited to, changes in interest rates and exchange rates; changing demographic and market-related trends; changes in customer preferences; changes to laws, regulation, accounting standards or taxation, including changes to regulatory capital or liquidity requirements; the policies and actions of governmental or regulatory authorities in the UK, the European Union, or jurisdictions outside the UK in which the Group operates, including other European countries and the US; the implementation of the draft EU crisis management framework directive and banking reform following the recommendations made by the Independent Commission on Banking; the ability to attract and retain senior management and other employees; requirements or limitations imposed on the Group as a result of HM Treasury's investment in the Group; the ability to complete satisfactorily the disposal of certain assets as part of the Group's EC state aid obligations; the extent of any future impairment charges or write-downs caused by depressed asset valuations, market disruptions and illiquid markets; the effects of competition and the actions of competitors, including non-bank financial services and lending companies; exposure to regulatory scrutiny, legal proceedings, regulatory investigations or complaints, and other factors. Please refer to the latest Annual Report on Form 20-F filed with the SEC for a discussion of certain factors together with examples of forward looking statements.
