Lloyds conducts bi-lateral covered bond buy-back

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By Bill Thornhill
11 Aug 2020

Lloyds has bought back a small amount of sterling covered bonds on a bi-lateral basis. Most investors that wanted to hand back bonds will have already done so in its previous public tender offer.

Lloyds Bank announced on Monday that it had bought a nominal £72m of its outstanding £1bn February 2023s which were launched in January at 37bp over Sonia. The trades were done as part of a bi-lateral buyback in contrast to a public tender offer, a source at ...

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