Lloyds exit in sight after UK offloads £4.2bn stake

Lloyds
By Andrew Griffin
27 Mar 2014

The UK government could be out of its holding in Lloyds Banking Group before a general election next May after setting itself up for future deals with Europe’s biggest accelerated bookbuild on Tuesday night. The UK government sold 7.8% of Lloyds, taking its holding down to just under 25% and raising £4.2bn.

The syndicate was broadened from the last Lloyds block trade in November, with Morgan Stanley joining Bank of America Merrill Lynch, JP Morgan and UBS as bookrunners. 

As well as securing extra distribution capacity — an extra bank for an extra £1bn of stock — broadening the syndicate ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial