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FIGRegulatory Capital

Lloyds extends AT1, blaming coronavirus

LloydsCovid_PA_575x375

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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