Land Securities Group PLC Landsec bond purchase programme (6018T)
04 July 2018 - 8:52PM
UK Regulatory
TIDMLAND
RNS Number : 6018T
Land Securities Group PLC
04 July 2018
4 July 2018
Land Securities Group PLC
("Landsec")
Landsec announces bond purchase programme
The following release was issued to the Irish Stock Exchange
this morning by Land Securities PLC:
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.
4 July 2018
Land Securities PLC (the Company) announced today that as part
of the Company's strategy to provide liquidity to investors in
Notes held in Series which have been reduced to below benchmark
size, it has authorised a purchase programme (the Purchase
Programme) to be managed by NatWest Markets Plc, pursuant to which
the Company may purchase, through open market purchases or private
transactions, the following securities (together, the Notes and
each a Series) issued by Land Securities Capital Markets PLC (the
Issuer):
Description Coupon ISIN/Common Outstanding Purchase
of the Notes Code Principal Amount Price
of Notes
Class A3 Notes 5.425% XS0204778145 GBP46,498,000 Mid-market
------- ------------- ------------------ -----------
Class A4 Notes 5.391% XS0204778905 GBP25,393,000 Mid-market
------- ------------- ------------------ -----------
Class A6 Notes 5.376% XS0204780125 GBP76,118,000 Mid-market
------- ------------- ------------------ -----------
Class A6 Notes 5.376% XS0204737117 GBP594,000 Mid-market
------- ------------- ------------------ -----------
Class A10 Notes 4.875% XS0269067095 GBP13,500,000 Mid-market
------- ------------- ------------------ -----------
Class A11 Notes 5.125% XS0286155071 GBP56,391,000 Mid-market
------- ------------- ------------------ -----------
* The stated Outstanding Principal Amount comprises all Notes
outstanding, excluding those held by Land Securities PLC.
The Company will decide in its sole discretion whether to
purchase any Notes from NatWest Markets Plc. The Company intends
for the Purchase Programme to remain open between 10:00 a.m.,
London time, on Wednesday 4 July 2018 and 3:00 p.m., London time,
on Tuesday 31 July 2018 (the Purchase Period). However, the
Purchase Period is subject to change and may be extended, amended
or terminated by the Company in its sole discretion. The Company is
not under any obligation to accept any Notes offered for
purchase.
Settlement between each holder of Notes (the Noteholders) and
NatWest Markets Plc (the Settlement Date) is expected to occur on a
T+2 basis from the date of the acceptance for purchase of any
Notes. The total amount that will be paid to each Noteholder on the
Settlement Date for the Notes of the relevant Series accepted for
purchase from such Noteholder will be an amount (rounded to the
nearest GBP0.01, with half a penny rounded upwards) equal to the
sum of: (a) the product of (i) the aggregate principal amount of
the Notes of the relevant Series accepted for purchase from such
Noteholder and (ii) the relevant Purchase Price; and (b) any
interest accrued and unpaid on the relevant Notes from (and
including) the immediately preceding interest payment date for such
Notes to (but excluding) the Settlement Date.
Noteholders wishing to offer their Notes for purchase by the
Company should contact their usual contact at NatWest Markets Plc.
Noteholders will not be required to pay any fees or commissions
to NatWest Markets Plc in connection with the sale of their
Notes pursuant to the Purchase Programme. NatWest Markets Plc may
require evidence of a Noteholder's identity to comply with
applicable offer and distribution restrictions and anti-money
laundering legislation and related regulations, policies and
procedures in relation to the purchase of the Notes.
Noteholders that do not have an account with NatWest Markets Plc
and wish to sell any Notes may do so through its broker, dealer,
commercial bank, trust company, other financial institution or
other custodian that it customarily uses, which has an account with
NatWest Markets Plc. Such broker, dealer, commercial bank, trust
company, other financial institution or other custodian must
contact NatWest Markets Plc at any time during the Offer Period.
Noteholders may be required to pay a fee or commission to such
party through whom the Notes are sold.
DISCLAIMER This announcement contains important information
which should be read carefully before any decision is made. If any
Noteholder is in any doubt as to the action it should take, it is
recommended to seek its own financial advice, including as to any
tax consequences, from its broker, bank manager, solicitor,
accountant or other independent financial, tax or legal adviser.
Any individual or company whose Notes are held on its behalf by a
broker, dealer, bank, custodian, trust company or other nominee
must contact such entity if it wishes to sell such Notes. None of
the Company, the Issuer or NatWest Markets Plc makes any
recommendation as to whether Noteholders should sell their
Notes.
- Ends -
Landsec
Investors
Edward Thacker
T: +44 (0)20 7024 5185
edward.thacker@landsec.com
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END
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