Lloyds launches largest ever rights issue

03 Nov 2009

After months of speculation, Lloyds launched its £13.5bn rights issue on Tuesday morning as the government confirmed a radical shake-up of the UK banking landscape to increase competition.

The deal is the largest ever from a UK company – surpassing HSBC’s £12.5bn deal in April – and by some measures the largest equity capital markets deal of all time.

Overall, Lloyds and RBS will raise as much as £54bn in new capital in a variety ...

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