Lloyds ‘delivers last missing piece’ for Virgin’s debut covered bond

By Bill Thornhill
16 Sep 2019

Lloyds Bank attracted a large and diverse order book for its €750m 10 year covered bond on Monday and has provided ‘the last missing piece’ for bankers working on Virgin Money’s debut euro covered bond, which is expected to be announced soon.

Lloyds Bank issued a €750m 10 year at 28bp over mid-swaps, in from 32bp initially and with almost 80 investors collectively placing orders of more than €1.5bn. 

The deal was joint lead managed by LBBW, Lloyds, Santander, UBS and UniCredit.

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