Lloyds increases dollar covered bond return

Lloyds 230
By Bill Thornhill
17 Jul 2019

Lloyds Bank was able to increase the size of its second dollar covered bond issued on Wednesday — its second deal in this market in the last year. In doing so, it still managed to pay a minimal new issue concession.

After appointing HSBC, Lloyds Bank, Standard Chartered and TD Securities on Tuesday, Lloyds opened order books on Wednesday for the dollar Reg S deal due July 2022 with price guidance of 38bp area over mid-swaps. 

By mid-morning the deal had attracted demand of more than ...

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