Company Announcements

Indicative Results of Offers

Source: RNS
RNS Number : 6744Y
Land Securities Capital Markets Plc
07 December 2017
 

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014.

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (the United States) OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

7 December 2017

LAND SECURITIES PLC ANNOUNCES INDICATIVE RESULTS OF THE TENDER OFFERS

On 29 November 2017, Land Securities PLC (the Offeror) launched separate invitations to holders of Land Securities Capital Markets PLC's (the Company) outstanding (a) 5.425 per cent. Class A3 Notes due March 2022 (ISIN: XS0204778145), (b) 5.391 per cent. Class A4 Notes due February 2026 (ISIN: XS0204778905), (c) 5.376 per cent. Class A6 Notes due September 2029 (ISIN: XS0204780125), (d) 5.396 per cent. Class A7 Notes due July 2032 (ISIN: XS0204780554), (e) 4.875 per cent. Class A10 Notes due September 2025 (ISIN: XS0269067095) and (f) 5.125 per cent. Class A11 Notes due February 2036 (ISIN: XS0286155071) (together, the Notes and each a Series), to tender their Notes for purchase by the Offeror for cash (each an Offer and together, the Offers), subject to applicable offer and distribution restrictions.

 

Capitalised terms used and not otherwise defined in this announcement have the meanings given in the Tender Offer Memorandum dated 29 November 2017 (the Tender Offer Memorandum).

 

The Offeror today announces that the indicative results of the Offers are as follows:

Any and All Offer:

Description of the Notes

Coupon

ISIN / Common Code

Aggregate Principal Amount of Notes tendered

Aggregate Principal Amount of Notes expected to be accepted for purchase

Class A3 Notes

5.425 per cent.

XS0204778145 / 020477814

£191,000

£191,000

Class A4 Notes

5.391 per cent.

XS0204778905 / 020477890

£1,475,000

£1,475,000

Class A6 Notes

5.376 per cent.

XS0204780125 / 020478012

£13,592,000

£13,592,000

Class A10 Notes

4.875 per cent.

XS0269067095 / 026906709

£14,641,000

£14,641,000

 

All or Nothing Offer:

Description of the Notes

Coupon

ISIN / Common Code

Aggregate Principal Amount of Notes tendered

Aggregate Principal Amount of Notes expected to be accepted for purchase

Class A7 Notes

5.396 per cent.

XS0204780554 / 020478055

£76,358,000

£76,358,000

Class A11 Notes

5.125 per cent.

XS0286155071 / 028615507

£41,453,000

£41,453,000

 

           

The Offeror will announce the final aggregate principal amount of Notes of each Series accepted for purchase as soon as reasonably practicable after the Pricing Time.

 

The Offers remain subject to the conditions and restrictions set out in the Tender Offer Memorandum. The Offeror is not under any obligation to accept for purchase any Notes tendered pursuant to the Offers.  The acceptance for purchase by the Offeror of Notes tendered pursuant to the Offers is at the sole discretion of the Offeror and tenders may be rejected by the Offeror for any reason.  In addition, the Offeror may, in its sole discretion, extend, re-open, amend or waive any condition of or terminate any Offer at any time (subject to applicable law and as provided in the Tender Offer Memorandum).

Full details concerning the Offers are set out in the Tender Offer Memorandum.

Questions and requests for assistance in connection with the Offers may be directed to the Dealer Managers and the Tender Agent, the contact details for both of which are set out below.

 

Banco Santander, S.A. (Telephone: +44 20 7756 6909 / 6646; Attention: Liability Management; Email: Tommaso.GrosPietro@santanderGCB.com; and King.Cheung@santanderGCB.com) and The Royal Bank of Scotland plc (trading as NatWest Markets) (Telephone: +44 20 7678 5282; Attention: Liability Management; Email: liabilitymanagement@natwestmarkets.com) are acting as Dealer Managers and Lucid Issuer Services Limited (Telephone: +44 20 7704 0880; Attention: Thomas Choquet; Email: landsecurities@lucid-is.com) is acting as Tender Agent.

 

This announcement is released by Land Securities PLC and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), encompassing information relating to the Offers described above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Martin Greenslade, Director of Land Securities PLC.

 

DISCLAIMER This announcement must be read in conjunction with the Tender Offer Memorandum. No offer or invitation to acquire or sell any securities is being made pursuant to this announcement. The Dealer Managers do not take responsibility for the contents of this announcement.  The distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law.  Persons into whose possession this announcement and/or the Tender Offer Memorandum come into are required by each of the Offeror, the Dealer Managers and the Tender Agent to inform themselves about, and to observe, any such restrictions.

 

 

This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
ISEGCBDDBDGBGRR