By Andrea Heisinger
New York, May 12 - Lloyds Banking Group sold $3 billion of notes in two tranches backed by the United Kingdom's guarantee program Tuesday, a market source said.
The $500 million of two-year notes priced at a spread of Treasuries plus 80 basis points, while the $2.5 billion of three-year notes priced at a spread of Treasuries plus 100 bps.
Full terms were not available at press time.
The deal was priced via Rule 144A.
Bookrunners were Banc of America Securities LLC, Citigroup Global Markets, Goldman Sachs & Co., and Lloyds Securities.
The financial services company is based in London.
| Issuer: | Lloyds Banking Group
|
| Issue: | Notes, backed by U.K. government guarantee
|
| Amount: | $3 billion
|
| Bookrunners: | Banc of America Securities LLC, Citigroup Global Markets, Goldman Sachs & Co., Lloyds Securities
|
| Distribution: | Rule 144A
|
| Trade date: | May 12
|
|
|
| Two-year notes
|
| Amount: | $500 million
|
| Maturity: | 2011
|
| Spread: | Treasuries plus 80 bps
|
|
|
| Three-year notes
|
| Amount: | $2.5 billion
|
| Maturity: | 2012
|
| Spread: | Treasuries plus 100 bps
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
