Lloyds Bank in sell-down race as European FIG clamours for capital

The UK government could shed its remaining 32% stake in Lloyds Banking Group in just a handful of deals this year, analysts and bankers argued this week. But the offerings, which could start as soon as April, will face competition from a host of eurozone bank sell-offs and capital raisings headed by Spain’s Bankia — though UK retail incentives could boost demand, writes Nina Flitman.

  • By Nina Flitman
  • 07 Feb 2014

Last year, a 15% stake in Lloyds was sold to institutional investors through a £3.2bn accelerated bookbuild — the largest ever ABB in EMEA. Future transactions to sell down the remaining £19bn stake are likely to be even bigger. 

“Market appetite for a Lloyds deal is at least ...

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All International Bonds

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5 HSBC 21,949.38 82 5.45%

Bookrunners of All Syndicated Loans EMEA

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Subtotal 172.30 3 100.00%

Bookrunners of all EMEA ECM Issuance

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1 SG Corporate & Investment Banking 770.06 2 16.80%
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5 Deutsche Bank 321.53 3 7.01%