| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Tenders > Headlines for 2022 > News item |
Society of Lloyd’s gives tender offer results for subordinated notes
Chicago, Dec. 12 – Society of Lloyd’s announced the tender offer results for its £500 million outstanding 4.75% subordinated notes due Oct. 30, 2024 (ISIN: XS1130913558), according to a news release.
The final acceptance amount is £193,949,000 in nominal amount of the notes. Lloyd’s had set a maximum acceptance amount for up to £250 million.
Pricing, determined on Monday using the 2.75% U.K. Treasury and a purchase spread of 200 basis points, was calculated to 98.443.
Tender instructions were due by 11 a.m. ET on Dec. 9. Instructions were irrevocable.
Settlement is expected on Tuesday.
Barclays is the dealer manager (+44 20 3134 8515, eu.lm@barclays.com).
Kroll Issuer Services Ltd. is the tender agent (+44 20 7704 0880, lloyds@is.kroll.com, https://deals.is.kroll.com/lloyds).
The provider of specialty insurance and reinsurance products is based in London. The company does business as Lloyd’s of 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.