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Lloyds sets 6NC5 at MS+47 for EUR1.25bn, tap to be EUR250m

Reuters - UK Focus

By Julian Baker

LONDON, Jan 8 (IFR) -

* Final terms: EUR1.25bn 6NC5 at MS+47, EUR250m Sep 2027 tap at MS+60. Books around EUR2bn and EUR375m. Allocs and pricing this pm. Lloyds is B&D. 6NC5 coupon 1yr MS+47 if not called. (11:58am)

* 6NC5 books over EUR1.3bn, guidance MS+50 area. Tap (Shenzhen: 002826.SZ - news) books around EUR300m, spread set at MS+60. Books subject at 11:30am. (11:01am)

* 6NC5 benchmark at 5yr MS+55/+60 IPTs, Sep (Shanghai: 600021.SS - news) 2027 tap at MS+65 area. Pricing today. Due 15 Jan 2024 and 12 Sep 2027, call 15 Jan 2023 on 6NC5, pay 15 Jan on both, EMTN docs, English law, London listing, 100k/1k denoms, Reg S bearer (NGN). Coupon on 6NC5 switches to 1yr MS+xx if not called. (8:27am)

Lloyds Banking Group plc has mandated Lloyds Bank as sole bookrunner for a 6NC5 euro holdco benchmark and a tap of its EUR750m 1.5% Sep 2027s (temp ISIN XS1749365281, 40-day funge with XS1681050610). Joint leads (no books) CA CIB, DB, MS. Expected ratings A3/BBB+/A+ (all stable). (8:27am)