By Cristal Cody
Tupelo, Miss., March 5 – Lloyds Banking Group plc sold $1 billion of 3.9% five-year senior notes (A3/BBB+/A+) at a spread of 140 basis points over Treasuries on Tuesday, according to a market source.
Initial price guidance was in the Treasuries plus 160 bps area.
Barclays, Citigroup Global Markets Inc., Lloyds Securities Inc. and J.P. Morgan Securities 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 billion
|
| Description: | Senior notes
|
| Maturity: | March 12, 2024
|
| Bookrunners: | Barclays, Citigroup Global Markets Inc., Lloyds Securities Inc. and J.P. Morgan Securities LLC
|
| Coupon: | 3.9%
|
| Spread: | Treasuries plus 140 bps
|
| Call feature: | None
|
| Trade date: | March 5
|
| Ratings: | Moody’s: A3
|
| S&P: BBB+
|
| Fitch: A+
|
| Distribution: | SEC registered
|
| Price talk: | Treasuries plus 160 bps area
|
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