Lloyds tracks RBC into soaring Sonia mart

Bill Thornhill

January 27, 2020 01:30 PM

Lloyds_Bank_575x375_PA_270120 — A branch of Lloyds Bank in the City of London, after the state-backed banking group announced it is to cut 9,000 jobs over the next three years as part of plans which will see the net closure of 150 branches. PRESS ASSOCIATION Photo. Picture date: Tuesday October 28, 2014. The group, which is 25% owned by the taxpayer, said it plans to "digitise" the bank, adding that it wants to simplify the business and be more efficient. See PA story CITY Lloyds. Photo credit should read: Stefan Rousseau/PA Wire | Stefan Rousseau/PA Archive/PA Images

Lloyds Bank returned to the sterling covered bond market on Monday with its first deal of 2020. It capitalised on the scarcity of short-dated Sonia supply with the first three year bond from a UK issuer in six months, which helped it to price its deal marginally inside fair value.

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Topics

Lloyds Bank UK Europe EMEA FIG Covered Bonds

BT

Bill Thornhill