Lloyds draws monster order book in busy week for senior

By Nathan Collins
13 Nov 2014

Lloyds took centre stage in the senior unsecured FIG market this week, drawing an order book of around €7bn for a seven year bond, as it made the most of the noise surrounding regulators' plans to implement a total loss absorbing capital (TLAC) measure.

Credit Suisse, Danske Bank and Morgan Stanley all sold well received euro prints as well this week.

Sole bookrunner Lloyds priced its €1.5bn seven year at 48bp over mid-swaps, tight of guidance of 50bp-55bp and initial price thoughts of 60bp area.

“You would need pretty aggressive expectations to have ...

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