Leeds Building Society kicks off tender offer for covered bonds

Chicago, Sept. 15 – Leeds Building Society started a tender offer for its £600 million outstanding regulated series 11 floating-rate covered bonds due April 15, 2023 (ISIN: XS1979287437), according to an announcement.

The company is offering to buy any and all of the bonds for a purchase price of 100.31. Interest will also be paid.

The offer is subject to a new financing condition. Tendering holders might be eligible for priority allocation of new covered bonds and should apply to the dealer managers if interested.

Leeds is selling new sterling-denominated floating-rate covered bonds guaranteed by Leeds Building Society Covered Bonds LLP.

The offer will expire at 11 a.m. ET on Sept. 23. Settlement is planned for Sept. 29.

The dealer managers are HSBC Bank plc (+44 20 7992 6237, LM_EMEA@hsbc.com), NatWest Markets plc (+44 20 7678 5222, liabilitymanagement@natwestmarkets.com), Nomura International plc (+44 20 7103 2410, +44 20 7103 2454, liability.management@nomura.com) and TD Bank (+44 20 7628 2262, LM@tdsecurities.com).

Kroll Issuer Services Ltd. is the tender agent (+44 20 7704 0880, leedsbuildingsociety@is.kroll.com, https://deals.is.kroll.com/leedsbuildingsociety).

The company offers mortgage and investment products and is based in Leeds, England.

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