Lloyds Banking Group Issues $2 Billion in Notes
Ticker: LLOBF · Form: 6-K · Filed: Nov 26, 2024 · CIK: 1160106
| Field | Detail |
|---|---|
| Company | Lloyds Banking Group PLC (LLOBF) |
| Form Type | 6-K |
| Filed Date | Nov 26, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 1 min |
| Key Dollar Amounts | $1,250,000,000, $750,000,000, $1,000,000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt-issuance, financing, notes
TL;DR
Lloyds just dropped $2B in new debt notes, boosting their war chest.
AI Summary
Lloyds Banking Group plc announced on November 26, 2024, the issuance of $1.25 billion in 5.087% Senior Callable Fixed to Fixed Rate Notes due 2028 and $750 million in Senior Callable Floating Rate Notes due 2028. This issuance is part of their ongoing financing activities.
Why It Matters
This debt issuance provides Lloyds Banking Group with significant capital, impacting its liquidity and financial flexibility for future operations and investments.
Risk Assessment
Risk Level: medium — Issuing new debt can increase financial leverage and interest expenses, which could pose risks depending on market conditions and the company's ability to service the debt.
Key Numbers
- $2.0 billion — Total Debt Issued (Combined principal amount of the two note series issued by Lloyds Banking Group.)
- 5.087% — Fixed Rate Coupon (Interest rate on the Senior Callable Fixed to Fixed Rate Notes due 2028.)
Key Players & Entities
- Lloyds Banking Group plc (company) — Issuer of the notes
- $1,250,000,000 (dollar_amount) — Principal amount of 5.087% Senior Callable Fixed to Fixed Rate Notes due 2028
- $750,000,000 (dollar_amount) — Principal amount of Senior Callable Floating Rate Notes due 2028
- 2028 (date) — Maturity year for both series of notes
- November 26, 2024 (date) — Date of the filing and announcement
FAQ
What is the total principal amount of debt being issued by Lloyds Banking Group?
Lloyds Banking Group is issuing a total of $2,000,000,000 in aggregate principal amount, comprising $1,250,000,000 of 5.087% Senior Callable Fixed to Fixed Rate Notes due 2028 and $750,000,000 of Senior Callable Floating Rate Notes due 2028.
What are the maturity dates for these new notes?
Both the 5.087% Senior Callable Fixed to Fixed Rate Notes and the Senior Callable Floating Rate Notes are due in 2028.
What is the interest rate on the fixed-rate notes?
The 5.087% Senior Callable Fixed to Fixed Rate Notes due 2028 carry a fixed interest rate of 5.087% per annum.
Is this filing related to annual reports?
No, this is a Form 6-K, which is a Report of Foreign Private Issuer Pursuant to Rule 13a-16 OR 15d-16 UNDER the Securities Exchange Act of 1934, not an annual report (Form 20-F).
When was this report filed with the SEC?
This report was filed on November 26, 2024.
Filing Stats: 339 words · 1 min read · ~1 pages · Grade level 14.6 · Accepted 2024-11-26 15:20:06
Key Financial Figures
- $1,250,000,000 — ance by Lloyds Banking Group plc of (i) $1,250,000,000 aggregate principal amount of 5.087% Se
- $750,000,000 — ixed to Fixed Rate Notes due 2028, (ii) $750,000,000 aggregate principal amount of Senior Ca
- $1,000,000,000 — Floating Rate Notes due 2028 and (iii) $1,000,000,000 aggregate principal amount of 5.590% Se
Filing Documents
- dp221172_6k.htm (6-K) — 12KB
- dp221172_ex0401.htm (EX-4.1) — 502KB
- dp221172_ex0501.htm (EX-5.1) — 15KB
- dp221172_ex0502.htm (EX-5.2) — 17KB
- image_001.jpg (GRAPHIC) — 2KB
- image_002.jpg (GRAPHIC) — 3KB
- image_003.jpg (GRAPHIC) — 3KB
- image_004.jpg (GRAPHIC) — 3KB
- image_005.jpg (GRAPHIC) — 3KB
- 0000950103-24-016788.txt ( ) — 568KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. LLOYDS BANKING GROUP PLC (Registrant) Dated: November 26, 2024 By: /s/ Jesse Tennant-Brown Name: Jesse Tennant-Brown Title: Director of Senior Funding and Covered Bonds