Lloyds Bank

The Prudential Regulation Authority has told UK banks that they are free to resume dividend and bonus payments from next year, though pay-outs will be subject to caps based on profits and risk-weighted assets.

AIIB's Mills Hagen leaves for Opec Fund — Horta Osório to chair Credit Suisse, replaced by Nunn — Mulderrig to head up European debt syndicate at UBS

The UK’s SSE Renewables and Norway’s Equinor, two energy companies, have signed what lenders say is the largest ever offshore wind project financing, a £5.5bn package for a wind farm off the UK coast.

Credit Suisse has picked the outgoing chief executive of Lloyds Banking Group, António Horta-Osório, as its next chairman.

Charlie Nunn, HSBC's global chief executive for wealth and personal banking, has been appointed as the next chief executive of Lloyds Banking Group.

TenneT, the Dutch transmission system operator, brought a dual tranche bond on Monday that was bang on trend as far as investors were concerned. The company's shrewd choice of a long dated green bond allowed it to increase the deal while printing it flat to or just through fair value.

Lloyds Bank is offering investors the chance to trade in several of its legacy tier one and tier two capital instruments in exchange for a new 15 year tier two note.

Toyota Motor Credit Corp, the Japanese car finance company, opened books for a £500m six year bond on Thursday, as syndicate bankers said next week’s new issue market would be busy.

Trainline, the UK train ticket booking company, has warned that there is a risk of a covenant breach on its £350m revolving credit facility, despite lenders already agreeing not to test the covenant until August 2021.

Lloyds Bank has amended the terms of its consent solicitation for two of its additional tier one (AT1) notes, after failing to reach a quorum at its first bondholder meeting. It now plans to use a different spread methodology to calculate the switch over from Libor to Sonia.

FIG borrowers may be well funded, but rates are low and market conditions are good enough to support opportunistic issuance — as was shown this week by a slate of deals across the capital structure. Given a volatile end to 2020 is likely, issuers will need to stay alert and take advantage of funding windows as they arise, write Frank Jackman and Bill Thornhill.

Pension Insurance Corporation (PIC) sold its second tier two trade of the year, raising £400m with what some investors saw as an opportunistic move.