Lloyds TSB Bank Prices GBP1.4 Billion 5-Year 1.5% Bond At 99.397

Date : 04/25/2012 @ 11:38AM
Source : Dow Jones News
Stock : Lloyds Banking Grp. Plc American Depositary Shares (LYG)
Quote : 4.08  0.05 (1.24%) @ 4:02PM

Lloyds TSB Bank Prices GBP1.4 Billion 5-Year 1.5% Bond At 99.397

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U.K. lender Lloyds TSB Bank PLC, part of Lloyds Banking Group PLC (LYG), has priced its GBP1.4 billion, five-year bond at 55 basis points over gilts, the bank said Wednesday.

The bond is being issued under the U.K. government's National Loan Guarantee Scheme, set up to provide cheaper funding for small and medium-size companies.

Lloyds was lead manager of the sale.

The terms of the transaction are as follows:

Amount:           GBP 1.4 billion 
Maturity:         May 2, 2017 
Coupon:           1.5% 
Reoffer Price:    99.397 
Payment Date:     May 2, 2012 
Spread:           55 basis points over gilts 
Debt Ratings:     Aaa (Moody's) 
                  AAA (Standard & Poor's) 
                  AAA (Fitch) 
Denominations:    GBP100,000 
Listing:          London 
Interest:         Annual 

- By Sarka Halas, Dow Jones Newswires; +44 (0) 207 842 9236; Sarka.Halasova@dowjones.com

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