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THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014.
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (the United States) OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.
6 February 2020
LAND SECURITIES PLC ANNOUNCES FINAL RESULTS OF THE TENDER OFFERS
On 28 January 2020, Land Securities PLC (the Offeror) launched separate invitations to holders of Land Securities Capital Markets PLC's (the Company) outstanding (a) 5.391 per cent. Class A4 Notes due February 2026 (ISIN: XS0204778905), (b) 5.391 per cent. Class A5 Notes due March 2027 (ISIN: XS0204779465), (c) 5.376 per cent. Class A6 Notes due September 2029 (ISIN: XS0204780125), (d) 5.396 per cent. Class A7 Notes due July 2032 (ISIN: XS0204780554), (e) 4.875 per cent. Class A10 Notes due September 2025 (ISIN: XS0269067095) and (f) 5.125 per cent. Class A11 Notes due February 2036 (ISIN: XS0286155071) (together, the Notes), to tender their Notes for purchase by the Offeror for cash (each an Offerand together, the Offers), subject to applicable offer and distribution restrictions. The Offeror announced the indicative results of the Offers earlier today.
Capitalised terms used and not otherwise defined in this announcement have the meanings given in the Tender Offer Memorandum dated 28 January 2020 (the Tender Offer Memorandum).
The Offeror announces that it will accept for purchase in cash an aggregate principal amount of (i) the Class A4 Notes, Class A5 Notes, Class A6 Notes, Class A7 Notes, Class A10 Notes and Class A11 Notes validly tendered pursuant to the Offers equal to £192,381,000. The final results of the Offers are as follows:
Description of the Notes | Coupon | ISIN / Common Code | Aggregate Principal Amount of Notes tendered | Aggregate Principal Amount of Notes accepted for purchase | Scaling Factor (per cent.) | Purchase Yield (per cent.) | Purchase Price (per cent.) | Accrued Interest (per £1,000) |
Class A4 Notes | 5.391 per cent. | XS0204778905 / 020477890 | £4,476,000 | £4,476,000 | Not Applicable | 1.102 | 116.927 | £24.46 |
Class A5 Notes | 5.391 per cent. | XS0204779465 / 020477946 | £91,463,000 | £91,463,000 | Not Applicable | 1.098 | 121.383 | £19.59 |
Class A6 Notes | 5.376 per cent. | XS0204780125 / 020478012 | £11,268,000 | £11,268,000 | Not Applicable | 1.127 | 130.998 | £19.64 |
Class A7 Notes | 5.396 per cent. | XS0204780554 / 020478055 | £75,159,000 | £75,159,000 | Not Applicable | 1.179 | 141.430 | £1.48 |
Class A10 Notes | 4.875 per cent. | XS0269067095 / 026906709 | £3,638,000 | £3,638,000 | Not Applicable | 0.949 | 113.982 | £17.95 |
Class A11 Notes | 5.125 per cent. | XS0286155071 / 028615507 | £6,377,000 | £6,377,000 | Not Applicable | 1.649 | 143.274 | £0.42 |
The Offers remain subject to the conditions and restrictions set out in the Tender Offer Memorandum.
The expected Tender Offer Settlement Date is 10 February 2020.
Full details concerning the Offers are set out in the Tender Offer Memorandum.
Questions and requests for assistance in connection with the Offers may be directed to the Dealer Manager and the Tender Agent, the contact details for both of which are set out below.
HSBC Bank plc (Telephone+44 20 7992 6237; Attention: Liability Management Group; Email: LM_EMEA@hsbc.com) is acting as Dealer Manager and Lucid Issuer Services Limited (Telephone: +44 20 7704 0880; Attention: Arlind Bytyqi; Email: landsecurities@lucid-is.com) is acting as Tender Agent.
This announcement is released by Land Securities PLC and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), encompassing information relating to the Offers described above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Martin Greenslade, Director of Land Securities PLC.
DISCLAIMERThis announcement must be read in conjunction with the Tender Offer Memorandum. No offer or invitation to acquire or sell any securities is being made pursuant to this announcement. The Dealer Manager does not take responsibility for the contents of this announcement. The distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the Tender Offer Memorandum come into are required by each of the Offeror, the Dealer Manager and the Tender Agent to inform themselves about, and to observe, any such restrictions.
This announcement has been issued through the Companies Announcement Service of Euronext Dublin.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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Final Tender Results - RNS
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LSE - London Stock Exchange plc published this content on 06 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 February 2020 14:52:03 UTC
