Abbey, Lloyds take different routes to same five year destination

13 Oct 2010

UK banks Lloyds and Abbey both launched new 2015 issues at similar spread guidance on Wednesday, but with very different investor groups in mind.

Abbey National Treasury Services made its euro market return with a Eu1bn benchmark while Lloyds Banking Group drilled down into small-ticket German accounts with a Eu600m three pillar transaction.

Meanwhile, lead managers Barclays Capital, DZ Bank and HSBC closed books on Thursday morning for Sparebank 1 SR’s long ...

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