By Andrea Heisinger
New York, Jan. 5 - Lloyds TSB Bank plc priced a combined $5 billion of notes (Aa3/A+/AA-) in two tranches on Tuesday, a source away from the deal said late in the day.
The sale was the last to price for the day, the source said.
A $2.25 billion tranche of 4.375% five-year notes priced at 99.996 to yield 4.376% with a spread of 182 basis points over Treasuries.
The $2.75 billion tranche of 5.8% 10-year notes priced at 99.767 to yield 5.831%, or Treasuries plus 208 bps.
Both tranches are non-callable and were priced via Rule 144A and Regulation S. The deal is guaranteed by Lloyds Banking Group plc.
Bank of America Merrill Lynch, Citigroup Global Markets and Credit Suisse Securities ran the books.
The retail bank is based in London and Edinburgh, Scotland.
| Issuer: | Lloyds TSB Bank plc
|
| Guarantor: | Lloyds Banking Group plc
|
| Issue: | Notes
|
| Amount: | $5 billion
|
| Bookrunners: | Bank of America Merrill Lynch, Citigroup Global Markets, Credit Suisse Securities
|
| Distribution: | Rule 144A/Regulation S
|
| Trade date: | Jan. 5
|
| Settlement date: | Jan. 12
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A+
|
| Fitch: AA-
|
|
|
| Five-year notes
|
| Amount: | $2.25 billion
|
| Maturity: | Jan. 12, 2015
|
| Coupon: | 4.375%
|
| Price: | 99.996
|
| Yield: | 4.376%
|
| Spread: | Treasuries plus 182 bps
|
| Call: | Non-callable
|
|
|
| 10-year notes
|
| Amount: | $2.75 billion
|
| Maturity: | Jan. 12, 2020
|
| Coupon: | 5.8%
|
| Price: | 99.767
|
| Yield: | 5.831%
|
| Spread: | Treasuries plus 208 bps
|
| Call: | Non-callable
|
© 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.
