Lloyds heeds investor call with 30 year sterling

15 Sep 2010

Lloyds TSB Bank plc sold a £1bn 30 year trade on Wednesday in a bid to diversify its funding sources after investors expressed interest in the long tenor, a senior funding official told EuroWeek.

Bookrunner Lloyds and lead managers Barclays Capital and HSBC bank raised £2.5bn of orders from 170 accounts in 90 minutes for the new issue from the Aa3/A+/AA- rated bank. They priced the bond at 245bp over Gilts, the tighter end of guidance, and it pays a coupon of ...

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