By Cristal Cody
Tupelo, Miss., May 2 – Lloyds Bank plc gave additional details of its $2.25 billion issue of guaranteed senior notes (A3/A/A+) that priced the previous session in an FWP filing with the Securities and Exchange Commission on Wednesday.
The company sold $1 billion of three-year floating-rate notes at par to yield a spread of Libor plus 49 basis points.
Lloyds priced $1.25 billion of 3.30% fixed-rate notes due 2021 at a Treasuries plus 70 bps spread. The notes were placed at 99.878 to yield 3.343%.
HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Lloyds Securities Inc. and Morgan Stanley & Co. LLC were the bookrunners.
The notes are fully and unconditionally guaranteed by Lloyds Banking Group plc.
Proceeds will be used for general corporate purposes.
Lloyds is a bank and financial services group based in London.
| Issuer: | Lloyds Bank plc
|
| Guarantor: | Lloyds Banking Group plc
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| Amount: | $2.25 billion
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| Description: | Senior notes
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| Bookrunners: | HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Lloyds Securities Inc. and Morgan Stanley & Co. LLC
|
| Trade date: | May 1
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| Settlement date: | May 8
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| Ratings: | Moody’s: A3
|
| S&P: A
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| Fitch: A+
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| Distribution: | SEC registered
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|
| Three-year floaters
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| Amount: | $1 billion
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| Description: | Floating-rate notes
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| Maturity: | May 7, 2021
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| Coupon: | Libor plus 49 bps
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| Price: | Par
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| Yield: | Libor plus 49 bps
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|
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| Three-year notes
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| Amount: | $1.25 billion
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| Description: | Senior notes
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| Maturity: | May 7, 2021
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| Coupon: | 3.30%
|
| Price: | 99.878
|
| Yield: | 3.343%
|
| Spread: | Treasuries plus 70 bps
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