Lloyds Banking Group to Redeem £500M AT1 Securities

TL;DR

Lloyds is calling back £500M in AT1 bonds on Dec 27.

AI Summary

Lloyds Banking Group plc announced on November 27, 2024, the redemption of its outstanding £500,000,000 5.125% Fixed Rate Reset Additional Tier 1 Perpetual Subordinated Contingent Convertible Securities. The redemption date is set for December 27, 2024.

Why It Matters

This redemption indicates a potential shift in the company's capital structure or a move to optimize its financing costs.

Risk Assessment

Risk Level: low — This is a standard redemption notice for a financial instrument and does not indicate any immediate financial distress.

Key Numbers

• £500,000,000 — Securities Redemption (Total principal amount of Additional Tier 1 Perpetual Subordinated Contingent Convertible Securities being redeemed.)
• 5.125% — Interest Rate (The fixed rate of interest on the securities being redeemed.)

Key Players & Entities

• Lloyds Banking Group plc (company) — Issuer of the securities
• £500,000,000 (dollar_amount) — Principal amount of securities to be redeemed
• 5.125 per cent. (dollar_amount) — Fixed interest rate of the securities
• November 27, 2024 (date) — Date of the announcement
• December 27, 2024 (date) — Redemption date

FAQ

Filing Documents

• a8756n.htm (6-K) — 29KB
• 0001654954-24-014930.txt ( ) — 30KB

Forward Looking Statements

Forward Looking Statements   This document contains certain forward-looking statements within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, and section 27A of the US Securities Act of 1933, as amended, with respect to the business, strategy, plans and/or results of Lloyds Banking Group plc together with its subsidiaries (the Group) and its current goals and expectations. Statements that are not historical or current facts, including statements about the Group's or its directors' and/or management's beliefs and expectations, are forward-looking statements. Words such as, without limitation, 'believes', 'achieves', 'anticipates', 'estimates', 'expects', 'targets', 'should', 'intends', 'aims', 'projects', 'plans', 'potential', 'will', 'would', 'could', 'considered', 'likely', 'may', 'seek', 'estimate', 'probability', 'goal', 'objective', 'deliver', 'endeavour', 'prospects', 'optimistic' and similar expressions or variations on these expressions are intended to identify forward-looking statements. These statements concern or may affect future matters, including but not limited to: projections or expectations of the Group's future financial position, including profit attributable to shareholders, provisions, economic profit, dividends, capital structure, portfolios, net interest margin, capital ratios, liquidity, risk-weighted assets (RWAs), expenditures or any other financial items or ratios; litigation, regulatory and governmental investigations; the Group's future financial performance; the level and extent of future impairments and write-downs; the Group's ESG targets and/or commitments; statements of plans, objectives or goals of the Group or its management and other statements that are not historical fact and statements of assumptions underlying such risk and uncertainty because they relate to events and depend upon circumstances that will or may occur in th

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)       By: Douglas Radcliffe Name: Douglas Radcliffe Title: Group Investor Relations Director           Date: 27 November 2024  

View Full Filing

View this 6-K filing on SEC EDGAR