Lloyds joins HSBC in A$1bn club with big kanga trade

By William Chambers
16 Nov 2017

Lloyds Bank has priced the second largest deal in the Australian dollar market this year, bringing its annual funding in the currency to A$1.1bn. The deal followed a large A$1bn dual-tranche trade from HSBC last week.

Lloyds Banking Group sold the A$450m November 2027 bond via ANZ, NAB, Nomura, TD Securities and Westpac Securities on Wednesday.

The trade was priced at swaps plus 167bp. This was 3bp tighter than initial guidance. Investors placed A$600m of orders behind the deal, with strong demand ...

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