RNS Number : 1050E
Lloyds Banking Group PLC
14 December 2009
124/09 14 December 2009
EXCHANGE OF PREFERENCE SHARES FOR ENHANCED CAPITAL NOTES
Lloyds Banking Group plc ("Lloyds Banking Group") announces that it has agreed
to repurchase U.S.$15,400,000 of its U.S.$750,000,000 6.413 per cent.
Non-Cumulative Fixed to Floating Rate Preference Shares (ISIN: GB00B3KSBH82),
U.S.$183,610,000 of its U.S.$750,000,000 5.92 per cent. Non-Cumulative Fixed to
Floating Rate Preference Shares (ISIN: GB00B3KSBJ07), U.S.$62,808,000 of its
U.S.$750,000,000 6.657 per cent. Non-Cumulative Fixed to Floating Rate
Preference Shares (ISIN: GB00B3KSBK12) and U.S.$14,840,000 of its
U.S.$1,000,000,000 6.267 per cent. Non-Cumulative Fixed to Floating Rate
Preference Shares (ISIN: XS0460002693), for new U.S.$276,658,000 8.50 per cent.
Undated Enhanced Capital Notes (the "ECNs"). The ECNs will rank as upper tier
two capital for regulatory purposes. It is expected that these exchanges will
complete on or around 17 December 2009.
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For further information:
Investor Relations
Michael Oliver +44 (0) 20 7356 2167
Director of Investor Relations
Email: michael.oliver@ltsb-finance.co.uk
Moira d'Arcy +44 (0) 20 7356 2164
Head of Debt Investor Relations
Email: moira.d'arcy@ltsb-finance.co.uk
Media Relations
Sara Evans +44 (0) 20 7356 2075
Media Relations Manager
Email: sara.evans2@lloydstsb.co.uk
This announcement and the information contained herein do not contain or
constitute an offer for sale or the solicitation of an offer to purchase
securities in the United States. The ECNs referred to herein have not been and
will not be registered under the US Securities Act of 1933, as amended (the
"Securities Act"), and may not be offered or sold in the United States absent
registration under the Securities Act or an available exemption from, or in a
transaction not subject to, the registration requirements of the Securities
Act. There will be no public offer of ECNs in the United States.
This information is provided by RNS
The company news service from the London Stock Exchange
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EXCHANGE OF PREFERENCE SHARES FOR ENHANCED CAPITAL NOTES
| Source: Bank of Scotland