Lloyds adds put options on Pendeford and Mound

Lloyds Banking Group has restructured two of its master trusts, Pendeford and Mound, adding investor put options at one month after expected maturity on all outstanding notes. The restructuring meets revised counterparty criteria for S&P and Fitch and allows Bank of Scotland (the Lloyds subsidiary that sponsors the trusts) to repurchase loans from the portfolios.