London Stock Exchange welcomes Lloyds Banking Group Celebrating the first SONIA linked Bond

London Stock Exchange welcomes Lloyds Banking Group Celebrating the first SONIA linked Bond

Today, the London Stock Exchange's markets were opened by Lloyds Banking Group to mark the listing of a first corporate bond by a commercial organisation that is linked to the Bank of England's new Sterling Overnight Index Average (SONIA®).

The three-year sterling benchmark floating rate covered bond raised £750 million from institutional investors. Total orders for the trade were in excess of £1.4 billion, with 63 individual investors buying the trade. Given the market focus on the benchmark transition, the level of investor engagement in this product was very positive.

Toby Rougier, Group Corporate Treasurer at Lloyds Banking Group:
"We are proud to be the first corporate company to issue a SONIA linked bond on London Stock Exchange, and pleased with the strong investor demand for the trade from both UK and non-UK accounts. This shows confidence in the bank and its strategy, and also interest in this new product. By continuing to innovate, the Group is well placed to continue its strong support for its customers and deliver superior returns for its shareholders, as it remains focused on its purpose of Helping Britain Prosper."

Lloyds Banking Group' is one of the largest companies in the FTSE 100 index. The Group's main business activities are retail and commercial banking, general insurance, and long-term savings, protection and investment. The Group provides services through its multi-channel strategy and under a number of well recognised brands including Lloyds Bank, Halifax, Bank of Scotland, MBNA and Scottish Widows.

Through its products and services, Lloyds Banking Group has been helping Britain prosper for more than 250 years and today we help 27 million customers with their financial needs. Our Helping Britain Prosper Plan takes us beyond business as usual and helps address the social and economic issues that matter most to Britain; such as getting a home, saving for later life, building digital skills, championing Britain's diversity and tackling social disadvantage.

Lloyds Banking Group shares are quoted on the London and New York Stock Exchanges.

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