By Andrea Heisinger
New York, March 25 - Lloyds TSB Bank plc priced $5 billion in notes (Aaa/AAA/AAA) guaranteed by the United Kingdom on Wednesday, an informed source said.
The $1.25 billion of two-year floating-rate notes priced at par to yield three-month Libor plus 85 basis points.
A $1.25 billion tranche of three-year floaters priced at par to yield three-month Libor plus 100 bps
A $1.5 billion tranche of 2.3% two-year notes priced at 99.926 to yield 2.338%.
A final $1.25 billion tranche of 2.8% three-year notes priced at 99.94 to yield 2.821%.
Treasury spreads were not available at press times.
The deal was priced via Rule 144A.
All of the tranches are non-callable.
Bookrunners were Banc of America Securities LLC, Citigroup Global Markets Inc., Goldman Sachs & Co. and Lloyds Securities.
The retail bank is based in London.
| Issuer: | Lloyds TSB Bank plc
|
| Issue: | U.K. government-guaranteed notes
|
| Total amount: | $5 billion
|
| Bookrunners: | Banc of America Securities LLC, Citigroup Global Markets Inc., Goldman Sachs & Co., Lloyds Securities
|
| Distribution: | Rule 144A
|
| Trade date: | March 25
|
| Settlement date: | April 1
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
|
|
| Two-year floaters
|
| Amount: | $1.25 billion
|
| Maturity: | April 1, 2011
|
| Coupon: | Three-month Libor plus 85 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 85 bps
|
| Call: | Non-callable
|
|
|
| Three-year floaters
|
| Amount: | $1.25 billion
|
| Maturity: | April 1, 2012
|
| Coupon: | Three-month Libor plus 100 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 100 bps
|
| Call: | Non-callable
|
|
|
| Two-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | April 2, 2011
|
| Coupon: | 2.3%
|
| Price: | 99.926
|
| Yield: | 2.338%
|
| Call: | Non-callable
|
|
|
| Three-year notes
|
| Amount: | $1 billion
|
| Maturity: | April 2, 2012
|
| Coupon: | 2.8%
|
| Price: | 99.94
|
| Yield: | 2.821%
|
| Call: | Non-callable
|
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