New York, Jan. 5 – Lloyds Banking Group plc sold $2.75 billion of senior notes (Baa1/BBB+/A+) in two tranches on Wednesday, according to an FWP filing with the Securities and Exchange Commission.
The bank priced $1.5 billion of 3% five-year notes at 99.659 to yield 3.074%, or 115 basis points over Treasuries.
Lloyds also brought $1.25 billion of 3.75% 10-year notes, selling them at 99.308 to yield 3.834% or Treasuries plus 140 bps.
Goldman Sachs & Co., HSBC Securities (USA) Inc., Lloyds Securities Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC were the bookrunners for the SEC-registered transaction.
The London-based bank plans to use the proceeds for general corporate purposes.
| Issuer: | Lloyds Banking Group plc
|
| Amount: | $2.75 billion
|
| Securities: | Senior notes
|
| Bookrunners: | Goldman Sachs & Co., HSBC Securities (USA) Inc., Lloyds Securities Inc., Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC
|
| Pricing date: | Jan. 4
|
| Settlement date: | Jan. 11
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
| Fitch: A+
|
| Distribution: | Off shelf
|
|
|
| Five-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | Jan. 11, 2022
|
| Coupon: | 3%
|
| Price: | 99.659
|
| Yield: | 3.074%
|
| Spread: | Treasuries plus 115 bps
|
| Call: | Non-callable
|
|
|
| 10-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | Jan. 11, 2027
|
| Coupon: | 3.75%
|
| Price: | 99.308
|
| Yield: | 3.834%
|
| Spread: | Treasuries plus 140 bps
|
| Call: | Non-callable
|
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