LONDON - Lloyds Banking Group (LON:LLOY) PLC has announced its decision to redeem its £750 million Fixed Rate Reset Callable Notes earlier than the scheduled maturity date of January 15, 2026. The redemption of these notes, which were originally issued on January 15, 2020, will take place on January 15, 2025. This move is in accordance with the terms outlined in the notes' conditions, specifically under the provision that allows for redemption at the option of the company.
The notice, issued to the noteholders on Friday, confirms that the redemption will include the Early Redemption Amount as well as any accrued interest up to the date set for redemption. The company has also affirmed that all conditions necessary for the redemption, as per the original agreement, have been met.
Lloyds Banking (NYSE:LYG) Group's decision to redeem these notes early is a financial strategy that aligns with the company’s obligations and the provisions set forth in the Permanent Global Note representing the Notes. The terms referenced are consistent with those defined in the Base Prospectus dated April 8, 2019.
The redemption notice was disseminated via RNS, the news service of the London Stock Exchange (LON:LSEG), which is authorized by the Financial Conduct Authority in the UK as a Primary Information Provider.
The announcement is based on a press release statement and provides essential information for investors and noteholders of Lloyds Banking Group PLC. The early redemption of the notes is a significant financial event for the company and its investors, as it pertains to the company's debt management and capital structure strategy.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.