Lloyds Bank

◆ Latest non-eurozone banks to print in dollar ◆ Competitive pricing available versus sterling and euros ◆ Lloyds chooses 'cheaper' three year tenor as NAB goes for a five year

Attractive market across the capital stack prompts expectations for foreign bank supply until the very end of August

French bank opts for AT1 while Lloyds progresses senior funding plan

◆ Aussie issuer tightens 5bp from IPTs ◆ First sterling covered from issuer since November 2023 ◆ Aussie banks have been busy in covered bond market

◆ Rare format from issuer amplifies trend of UK lenders printing opco debt ◆ Arrives amid demand for debt from national champions ◆ Follows equivalent senior preferred bonds from French banks

◆ First fixed rate sterling covered since February ◆ Order book was 1.5 times oversubscribed ◆ Tenor made the deal 'more competitive', says banker

◆ Asian issuer opts for £500m no-grow format ◆ Deal offers small new issue premium ◆ Deal takes cue from BMO and KHFC

Kangaroo and Panda market grow as banks create US dollar FRNs to meet Asian demand

◆ Issuer raises large size for the currency ◆ Pricing break through 100bp level ◆ Book stays almost intact despite macro volatility

◆ German bank's covered tightened 6bp ◆ Order book peaked at €2.5bn ◆ Banker said the issuer could have gone larger than €1bn

◆ British lender fixed spread and deal size from outset ◆ Order book closed at over two times the deal size ◆ Fixing terms enabled faster execution, the lender said

◆ HSBC brings €3.25bn of funding across three tranches ◆ Lloyds opts for €750m single tranche before UK local elections ◆ Heavy euro FIG issuance as possible Iran deal announced