Lloyds increases dollar covered bond return
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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