Lloyds blows out as UK and US banks reveal the new cost of doing deals
New senior bank bonds are proving attractive to investors at about 40bp-50bp or more over secondary levels, with UK issuers Lloyds and HSBC joining US peers in returning to the new issue market this week.
Lloyds was able to launch a €1.5bn six year non-call five senior trade from its holding company on Wednesday morning, backed by an impressive €8.25bn of demand.It was joined in the euro market by Goldman Sachs, which launched a €3bn five year senior trade at 355bp ...
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