Lloyds extends AT1, blaming coronavirus

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Lloyds extends AT1, blaming coronavirus

David Freitas, 
Tyler Davies
May 22, 2020 03:45 pm
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The Lloyds Bank logo seen displayed on a mobile phone with an illustrative model of the Coronavirus displayed on a monitor in the background. Photo credit should read: James Warwick/EMPICS Entertainment | James Warwick/EMPICS Entertainment

Lloyds Banking Group has become the latest financial institution to extend the life of an additional tier one capital instrument (AT1), after arguing on Friday that it would be "uneconomic" for it to refinance its €750m 6.375% notes amid the stress of the coronavirus pandemic.

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Topics

Deutsche BankHealth and BiotechLloyds BankUKEMEACoronavirusBank CapitalNatWest MarketsEuropeABN AmroRegulatory CapitalSRIFIG
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David Freitas
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Tyler Davies
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