Lloyds accepts $4.92 billion of notes for purchase in tender offer

By Angela McDaniels

Tacoma, Wash., July 9 - Lloyds TSB Bank plc accepted $4,924,549,000 of notes for purchase in its tender offer for five series of notes, according to a company filing with the London Stock Exchange.

The offer began on June 28 and ended at 11 a.m. ET on July 6. The settlement date will be July 10.

The company accepted

• $726,659,000 of its $2 billion of floating-rate notes due January 2014. The purchase price is $1,005.50 per $1,000 principal amount of notes;

• $682,842,000 of its $2.25 billion of 4.375% senior notes due January 2015. The purchase price is $1,032.53, and the repurchase spread is 265 basis points;

• $994,467,000 of its $2.25 billion of 4.875% senior fixed-rate notes due January 2016. The purchase price is $1,053.98, and the repurchase spread is 260 bps;

• $1,267,613,000 of its $2.75 billion of 5.8% senior fixed-rate notes due January 2020. The purchase price is $1,074.74, and the repurchase spread is 305 bps;

• $1,252,968,000 of its $2.5 billion of 6.375% senior fixed-rate notes due January 2021. The purchase price is $1,142.17, and the repurchase spread is 280 bps.

Holders will also receive accrued interest.

Deutsche Bank AG, London Branch (44 20 7545 8011 or liability.management@db.com) and Lloyds TSB Bank plc (44 20 7158 3981 or liability.management@lloydsbanking.com) are the dealer managers. Lucid Issuer Services Ltd. is the tender agent (44 20 7704 0880 or lbg@lucid-is.com).

The retail bank is based in London and Edinburgh.

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