Orthodox Osborne plays safe on £17bn Lloyds privatisation

The UK Chancellor of the Exchequer this week signalled the start of preparations for a £5bn or larger institutional placement of Lloyds Banking Group shares which could come later this year or early in 2014. A vanilla deal that takes the government to within one shot of disposing of its 39% stake, which could be worth £17bn, is possible at the breakeven price, say ECM bankers.

  • By Andrew Griffin
  • 20 Jun 2013

Banks are likely to be asked to participate in an appointment process soon so that an adviser can be in place in time for a trade to be ready after the summer break. 

“We are actively considering options for share sales in Lloyds,” said George Osborne in his ...

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All International Bonds

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4 Barclays 75,288.19 241 6.66%
5 Goldman Sachs 68,504.71 208 6.06%

Bookrunners of All Syndicated Loans EMEA

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1 Bank of America Merrill Lynch 10,650.87 23 11.13%
2 Deutsche Bank 8,169.49 17 8.53%
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4 Citi 4,355.35 13 4.55%
5 SG Corporate & Investment Banking 4,273.37 17 4.46%

Bookrunners of all EMEA ECM Issuance

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1 JPMorgan 5,440.56 17 10.74%
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3 UBS 3,742.72 17 7.39%
4 Citi 3,393.89 23 6.70%
5 Goldman Sachs 3,360.93 18 6.63%