Standard Chartered PLC and unit Standard Chartered Bank announced the results of their offer to repurchase three series of British pound sterling-denominated notes for cash.
The aggregate nominal amount tendered and accepted for repurchase for the £900 million 5.125% dated subordinated notes due 2034 and the £750 million 4.375% notes due 2038 was approximately £372.5 million and £245.7 million, respectively, while the repurchase prices were set at £1,073.55 per £1,000 and £1,119.66 per £1,000, respectively.
For the £200 million 7.750% undated subordinated step-up notes callable by Jan. 31, 2022, the aggregate nominal amount tendered and accepted for repurchase was roughly £99.1 million. The repurchase price was set at £11,875.40 per £10,000.
Settlement of the offers is expected June 14.
Lloyds Bank Corporate Markets PLC, Standard Chartered Bank and UBS Ltd. served as dealer managers on the offers.
