By Cristal Cody
Tupelo, Miss., May 1 – Lloyds Bank plc priced $2.25 billion of guaranteed notes (A3/BBB+/A+) in two tranches on Tuesday, according to a market source.
The company sold $1 billion of three-year floating-rate notes at Libor plus 49 basis points.
Lloyds priced $1.25 billion of 3.3% senior notes due 2021 at a Treasuries plus 70 bps spread.
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
|
| Amount: | $2.25 billion
|
| Description: | Senior notes and floating-rate notes
|
| Bookrunners: | HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Lloyds Securities Inc. and Morgan Stanley & Co. LLC
|
| Trade date: | May 1
|
| Ratings: | Moody’s: A3
|
| S&P: BBB+
|
| Fitch: A+
|
| Distribution: | SEC registered
|
|
|
| Three-year floaters
|
| Amount: | $1 billion
|
| Description: | Floating-rate notes
|
| Maturity: | May 7, 2021
|
| Coupon: | Libor plus 49 bps
|
|
|
| Three-year notes
|
| Amount: | $1.25 billion
|
| Description: | Senior notes
|
| Maturity: | May 7, 2021
|
| Coupon: | 3.3%
|
| Spread: | Treasuries plus 70 bps
|
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