LGEN - Ticker AI Digest

LGEN 10:31

Legal & General Group PLC

Tender Offer - Maximum Acceptance Amount

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**Summary**

Legal & General Group Plc announced a tender offer for its £600,000,000 Fixed Rate Reset Subordinated Notes due 2064 (ISIN: XS1079028566) on August 27, 2025. The company has now set the Maximum Acceptance Amount for this offer at £600,000,000, which is the total outstanding nominal amount of the notes. The Applicable Euro/Sterling Exchange Rate is 0.86309. The offer is subject to the satisfaction or waiver of the New Financing Condition and other terms outlined in the Tender Offer Memorandum.

Key details

**Offeror**Legal & General Group Plc

**Notes**£600,000,000 Fixed Rate Reset Subordinated Notes due 2064

**Maximum Acceptance Amount**: £600000000

**Applicable Euro/Sterling Exchange Rate**: 0.86309

**Offer Restrictions**The offer is not available to residents or entities in the United States, and specific restrictions apply to other jurisdictions, including Italy, the United Kingdom, France, and Belgium.

Noteholders are advised to carefully review the Tender Offer Memorandum and seek professional advice if needed. The offer is managed by several Dealer Managers, and Kroll Issuer Services Limited acts as the Tender Agent. The announcement emphasizes that it contains inside information and is subject to various legal and regulatory restrictions.

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LGEN 07:41

Legal & General Group PLC

Tender Offer

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**Summary**

Legal & General Group Plc has announced a tender offer for its £600,000,000 Fixed Rate Reset Subordinated Notes due 2064 (ISIN: XS1079028566). The offer aims to proactively manage the companys redemption profile and provide noteholders with an opportunity to sell their holdings and potentially gain preference in the allocation of new euro-denominated Tier 2 notes (New Notes). The tender offer is conditional on the successful issuance of the New Notes and other specified conditions.

**Key Points**

1. **Tender Offer Details**

**Notes** £600,000,000 Fixed Rate Reset Subordinated Notes due 2064.

**Purchase Price** 100.00% of the nominal amount of the notes.

**Maximum Acceptance Amount** No greater than the aggregate nominal amount of the New Notes issued (converted into Sterling Equivalent).

**Expiration Deadline** 4:00 PM (London time) on September 5, 2025.

**Settlement Date:** September 92025subject to conditions.

2. **Rationale**

Manage the companys expected redemption profile.

Provide noteholders with an opportunity to sell their holdings and apply for preference in the allocation of New Notes.

Evaluate potential exercise of optional redemption rights for remaining notes after the offer.

3. **New Notes Issuance**

**Type** Euro-denominated Tier 2 notes.

**Condition** The tender offer is conditional on the successful issuance of the New Notes.

**Target Market** Eligible counterparties and professional clients, excluding retail investors in the EEA and the UK.

4. **Offer Restrictions and Conditions**

Not available to persons located or resident in the United States or where unlawful.

Noteholders must make specific representations regarding their eligibility and compliance with applicable laws.

The offer is subject to various jurisdictional restrictions, including the UK, Italy, France, and Belgium.

5. **Important Dates**

**Announcement of Maximum Acceptance Amount:** As soon as reasonably practicable after pricing of the New Notes.

**Announcement of Results** As soon as reasonably practicable on September 8, 2025.

6. **Contact Information**

**Dealer Managers:** Banco SantanderBNP ParibasDeutsche BankHSBCMorgan Stanleyand NatWest Markets.

**Tender Agent** Kroll Issuer Services Limited.

This tender offer is a strategic move by Legal & General Group Plc to manage its debt profile and offer noteholders a structured opportunity to participate in new issuances. Noteholders are advised to carefully review the Tender Offer Memorandum and consult with their financial advisors before making any decisions.

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LGEN 10:31

Legal & General Group PLC

Tender Offer - Maximum Acceptance Amount

Open AI Digest

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Return to today’s catalyst cards, chart beacons and AI charts.

**Summary**

Legal & General Group Plc announced a tender offer for its £600,000,000 Fixed Rate Reset Subordinated Notes due 2064 (ISIN: XS1079028566) on August 27, 2025. The company has now set the Maximum Acceptance Amount for this offer at £600,000,000, which is the total outstanding nominal amount of the notes. The Applicable Euro/Sterling Exchange Rate is 0.86309. The offer is subject to the satisfaction or waiver of the New Financing Condition and other terms outlined in the Tender Offer Memorandum.

Key details

**Offeror**Legal & General Group Plc

**Notes**£600,000,000 Fixed Rate Reset Subordinated Notes due 2064

**Maximum Acceptance Amount**: £600000000

**Applicable Euro/Sterling Exchange Rate**: 0.86309

**Offer Restrictions**The offer is not available to residents or entities in the United States, and specific restrictions apply to other jurisdictions, including Italy, the United Kingdom, France, and Belgium.

Noteholders are advised to carefully review the Tender Offer Memorandum and seek professional advice if needed. The offer is managed by several Dealer Managers, and Kroll Issuer Services Limited acts as the Tender Agent. The announcement emphasizes that it contains inside information and is subject to various legal and regulatory restrictions.

Go Back To AI Charts

LGEN 07:41

Legal & General Group PLC

Tender Offer

Open AI Digest

Go Back To AI Charts

Return to today’s catalyst cards, chart beacons and AI charts.

**Summary**

Legal & General Group Plc has announced a tender offer for its £600,000,000 Fixed Rate Reset Subordinated Notes due 2064 (ISIN: XS1079028566). The offer aims to proactively manage the companys redemption profile and provide noteholders with an opportunity to sell their holdings and potentially gain preference in the allocation of new euro-denominated Tier 2 notes (New Notes). The tender offer is conditional on the successful issuance of the New Notes and other specified conditions.

**Key Points**

1. **Tender Offer Details**

**Notes** £600,000,000 Fixed Rate Reset Subordinated Notes due 2064.

**Purchase Price** 100.00% of the nominal amount of the notes.

**Maximum Acceptance Amount** No greater than the aggregate nominal amount of the New Notes issued (converted into Sterling Equivalent).

**Expiration Deadline** 4:00 PM (London time) on September 5, 2025.

**Settlement Date:** September 92025subject to conditions.

2. **Rationale**

Manage the companys expected redemption profile.

Provide noteholders with an opportunity to sell their holdings and apply for preference in the allocation of New Notes.

Evaluate potential exercise of optional redemption rights for remaining notes after the offer.

3. **New Notes Issuance**

**Type** Euro-denominated Tier 2 notes.

**Condition** The tender offer is conditional on the successful issuance of the New Notes.

**Target Market** Eligible counterparties and professional clients, excluding retail investors in the EEA and the UK.

4. **Offer Restrictions and Conditions**

Not available to persons located or resident in the United States or where unlawful.

Noteholders must make specific representations regarding their eligibility and compliance with applicable laws.

The offer is subject to various jurisdictional restrictions, including the UK, Italy, France, and Belgium.

5. **Important Dates**

**Announcement of Maximum Acceptance Amount:** As soon as reasonably practicable after pricing of the New Notes.

**Announcement of Results** As soon as reasonably practicable on September 8, 2025.

6. **Contact Information**

**Dealer Managers:** Banco SantanderBNP ParibasDeutsche BankHSBCMorgan Stanleyand NatWest Markets.

**Tender Agent** Kroll Issuer Services Limited.

This tender offer is a strategic move by Legal & General Group Plc to manage its debt profile and offer noteholders a structured opportunity to participate in new issuances. Noteholders are advised to carefully review the Tender Offer Memorandum and consult with their financial advisors before making any decisions.

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