Standard Life launches offer for €750 million 6.375% fixed/floaters

By Jennifer Chiou

New York, Aug. 30 - Standard Life plc announced an invitation to holders of its €750 million of 6.375% fixed/floating subordinated guaranteed bonds due 2022 to tender their securities for cash.

The company is offering €10,200 per €10,000 principal amount plus accrued interest.

Standard Life noted that the offer is part of its active capital management strategy.

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

The company will announce results on Sept. 12, and settlement will follow on Sept. 14.

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

The joint dealer managers are 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 is Lucid Issuer Services Ltd. (44 20 7704 0880 or standardlife@lucid-is.com, attn: Yves Theis, David Shilson).

The Edinburgh-based issuer is a long-term savings and investments company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.