Lloyds follows UBS into dollars as spreads underperform in Europe

Lloyds_Alamy_230x150
By David Freitas
08 Aug 2019

Lloyds Bank dipped into dollars for senior funding on Wednesday, a day after UBS launched a deal in the same currency. A syndicate official noted that European financial institutions are being tempted across the Atlantic amid more inhospitable conditions in the euro market this summer.

Lead managers Citi, JP Morgan, Lloyds Securities and Wells Fargo started off with price thoughts in the 95bp area over US Treasuries for the three year fixed rate senior bond on Wednesday.

They was later able to tighten the spread into a final level of 85bp, setting ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.