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LONDON - Lloyds Banking Group plc (NYSE:LYG) will redeem the entire outstanding principal amount of its $1.25 billion 4.716% Senior Callable Fixed-to-Fixed Rate Notes due 2026, according to a statement released Friday.
The redemption will occur on August 11, 2025, with noteholders receiving 100% of the principal amount plus any accrued but unpaid interest up to, but excluding, the redemption date.
The banking group has issued a formal redemption notice to The Bank of New York Mellon (NYSE:BK), which serves as trustee for the notes. Noteholders can surrender their securities and obtain payment at The Bank of New York Mellon’s London Branch.
Lloyds Banking Group stated it will deposit funds sufficient to cover the total redemption price with the trustee or a paying agent before the redemption date. Once this deposit is made, all rights of the noteholders will cease except for receiving the redemption payment.
Following the redemption, the notes will no longer be outstanding and their listing on the New York Stock Exchange will be canceled on or shortly after August 11, 2025.
The redemption is being executed under the terms of the Senior Debt Securities Indenture dated July 6, 2010, as amended by the Fifteenth Supplemental Indenture dated August 11, 2022.
This information is based on a press release statement issued by Lloyds Banking Group.
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