Standard Life gets tenders for €687.22 million 6.375% fixed/floaters

By Angela McDaniels

Tacoma, Wash., Sept. 15 - Standard Life plc received tenders for €687.22 million of its €750 million 6.375% fixed/floating subordinated guaranteed bonds due 2022, according to a company announcement.

The company offered €10,200 per €10,000 principal amount of bonds plus accrued interest. The tender offer began Aug. 30, and the settlement date was Sept. 14.

To participate, holders had to deliver through Euroclear or Clearstream Luxembourg a valid electronic offer instruction that was received by the tender agent by 11 a.m. ET on Sept. 9.

Following the offer, €62.78 million of the bonds remain outstanding.

The bonds have a first call date of July 12, 2012.

The joint dealer managers were Deutsche Bank AG, London Branch (44 20 7545 8011 or liability.management@db.com), J.P. Morgan Securities Ltd. (44 20 7325 4851 or liability.management@jpmorgan.com) and UBS Ltd. (44 20 7567 0525 or mark-t.watkins@ubs.com).

The tender agent was Lucid Issuer Services Ltd. (44 20 7704 0880 or standardlife@lucid-is.com, attn: Yves Theis, David Shilson).

Standard Life is an Edinburgh-based long-term savings and investments company.

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