By Cristal Cody
Tupelo, Miss., May 1 – Lloyds Banking Group plc priced $1.5 billion of 4.45% seven-year senior notes (A3/BBB+/A+) on Tuesday at a spread of 153 basis points over Treasuries, according to a market source.
The company sold the notes on the tight side of guidance in the Treasuries plus 155 bps area.
HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Lloyds Securities Inc. and Morgan Stanley & Co. LLC were the bookrunners.
The London bank and financial services group plans to use the proceeds for general corporate purposes.
| Issuer: | Lloyds Banking Group plc
|
| Amount: | $1.5 billion
|
| Description: | Senior notes
|
| Maturity: | May 8, 2025
|
| Bookrunners: | HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Lloyds Securities Inc. and Morgan Stanley & Co. LLC
|
| Coupon: | 4.45%
|
| Spread: | Treasuries plus 153 bps
|
| Trade date: | May 1
|
| Ratings: | Moody’s: A3
|
| S&P: BBB+
|
| Fitch: A+
|
| Distribution: | SEC registered
|
| Price talk: | Treasuries plus 155 bps area
|
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