Lloyds Bank
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◆ Strong demand for rare UK insurance name ◆ Note spotted 5bp tighter in the secondary market ◆ Proceeds to fund tender offer for 2024 subordinated note -
◆ First issue since 2014 will pay for tender offer ◆ Bankers expect 'high single digit' handle ◆ Sub note to be replaced a year before maturity
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Industry veteran only joined bank at start of year
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Deal priced a record 20bp tighter than Toronto Dominion's
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Hannah Simons joins from Schroders to lead the sustainability team
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Investors show preference for paper with rarity value paying a premium
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More foreign banks are preparing to issue in Japan as local investors show strong appetite
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Redeeming £135m of AT1 in June further lifts mood after UniCredit call decision
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New loan package extends debt, company aims to use debt capital markets
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Debut green trade cruises through as sector creeps back in from the cold
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First green bonds since EU agreed new standard garner bulging books
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$1.25bn print helps UK lender meet its minimum subordinated debt funding need for the year
