By Aleesia Forni
Virginia Beach, March 12 – Lloyds Banking plc sold $2.5 billion of senior notes (A1/A/A) on Thursday in three parts, a market source said.
There was a $500 million tranche of floating-rate notes due 2018 sold at par to yield Libor plus 52 basis points.
A $1 billion tranche of 1.75% notes due 2018 sold at 75 bps over Treasuries. The notes sold at 99.866 to yield 1.796%.
Lloyds also priced $1 billion of 2.4% notes due 2020 at 99.836 to yield 2.435%, or Treasuries plus 85 bps.
Both fixed-rate tranches sold at the tight end of price guidance.
Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co., J.P. Morgan Securities LLC and Lloyds Securities LLC were the bookrunners.
Proceeds will be used for general corporate purposes.
The notes are guaranteed by Lloyds Banking Group plc.
The retail bank is based in London.
| Issuer: | Lloyds Banking plc
|
| Guarantor: | Lloyds Banking Group plc
|
| Issue: | Senior notes
|
| Amount: | $2.5 billion
|
| Bookrunners: | Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co., J.P. Morgan Securities LLC, Lloyds Securities LLC
|
| Trade date: | March 12
|
| Settlement date: | March 17
|
| Ratings: | Moody’s: A1
|
| Standard & Poor’s: A
|
| Fitch: A
|
| Distribution: | SEC registered
|
|
|
| Three-year floaters
|
| Amount: | $500 million
|
| Maturity: | March 16, 2018
|
| Coupon: | Libor plus 52 bps
|
| Price: | Par
|
| Yield: | Libor plus 52 bps
|
| Price talk: | Libor equivalent to three-year fixed-rate notes
|
|
|
| Three-year notes
|
| Amount: | $1 billion
|
| Maturity: | March 16, 2018
|
| Coupon: | 1.75%
|
| Price: | 99.866
|
| Yield: | 1.796%
|
| Spread: | 75 bps over Treasuries
|
| Price talk: | 80 bps area over Treasuries
|
|
|
| Five-year notes
|
| Amount: | $1 billion
|
| Maturity: | March 17, 2020
|
| Coupon: | 2.4%
|
| Price: | 99.836
|
| Yield: | 2.435%
|
| Spread: | 85 bps over Treasuries
|
| Price talk: | 90 bps area over Treasuries
|
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