Lloyds raises £332m through sale
5th Jul 2010 07:06
Part-nationalised lender Lloyds Banking Group is offloading a portfolio of 40 private equity investments in its Bank of Scotland Integrated Finance (BoSIF) unit to a newly formed joint venture. The new joint venture, called Cavendish Square Partners LP, will be majority owned by private equity inve
Read moreLloyds Bank Pressed To Sell Scottish Widows - Newspaper
4th Jul 2010 11:27
LONDON (Dow Jones)--Lloyds Banking Group PLC (LLOY.LN), 40%-owned by the U.K. government, is under pressure from shareholders to sell its Scottish Widows insurance business, which could raise about GBP7 billion, The Observer newspaper reports Sunday, citing some unidentified shareholders. Invest
Read morePRESS RELEASE: Moody's Downgrades The Class A -2-
2nd Jul 2010 15:31
for defaulted loans, Moody's anticipates a substantial amount of losses on the securitised portfolio. In addition, the likelihood of higher than expected losses on the portfolio has increased substantially, resulting in a downgrade of the most senior class of Notes. Country Risk. In its country ris
Read morePRESS RELEASE: Moody's Downgrades The Class A Cmbs Notes Issued By Epic (Drummond) Limited To Aa3
2nd Jul 2010 15:31
The following is a press release from Moody's Investors Service: EUR 871 million of EMEA CMBS affected London, 02 July 2010 -- Moody's Investors Service has downgraded the Class A Notes issued by Epic (Drummond) Limited (amount reflects initial outstandings): EUR871.175M Class A Floating Rate N
Read moreUK's Great Rolling Stock Company Plans Roadshow For Debut Bond
2nd Jul 2010 09:56
LONDON (Dow Jones)--The Great Rolling Stock Company Ltd. is planning a roadshow next Tuesday through Thursday for a debut bond issue under its GBP4 billion financing program, one of the banks running the sale said Friday. Lloyds Banking Group PLC, Goldman Sachs Group Inc. and the Royal Bank of S
Read moreLloyds Banking Group Wraps Up $750M Public-Income Notes Sale
1st Jul 2010 20:00
By Katy Burne Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Lloyds Banking Group Plc (LYG, LLOY.LN) sold $750 million in long-term public-income notes Wednesday, targeting retail investors. Institutions bought only 5% of the issue, according to a person familiar with the sale. It was the
Read moreUK Banks Cautiously Welcome EU Bonus Rules After 2009 Changes
1st Jul 2010 12:54
By Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.K. banks could gain from a new set of rules on banker bonuses being discussed by European Union governments, after the country unilaterally applied stricter rules on pay last year, people familiar with the situation said Thurs
Read moreLloyds Banking Priced $750M 7.75% Senior Notes Due 2050
1st Jul 2010 07:22
LONDON (Dow Jones)--Lloyds Banking Group PLC (LLOY.LN), said Thursday that it has priced an issue of $750 million 7.75% Senior Notes due 2050 to be issued pursuant to a registration statement filed with the US Securities and Exchange Commission on June 28. MAIN FACTS: -Issue Date July 6
Read moreThursday's newspaper round-up: Bonus, BP, Tate & Lyle
1st Jul 2010 06:16
The EU says cash bonuses for bankers should be capped at 30 per cent of the total bonus, significantly tougher than the FSA's regime for British banks, which set the cap at 40 per cent for the most highly paid and 60 per cent for other senior staff, writes the Times. Top BP executives including Ton
Read moreUPDATE: Lloyds To Cut 650 Jobs After Retail Strategy Review
30th Jun 2010 12:44
(Adds detail and background.) By Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Lloyds Banking Group PLC (LYG) said Wednesday that it will cut 650 jobs after closing an insurance site in the U.K. and shrinking staff in other locations, as it continues to streamline its oper
Read moreLloyds To Cut 650 Jobs After Retail Strategy Review
30th Jun 2010 12:31
By Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Lloyds Banking Group PLC (LYG) said Wednesday that it will cut 650 jobs after closing an insurance site and other locations, as it continues to streamline its operations in the U.K. The 41%-government owned U.K. bank is also
Read moreMARKET TALK: Credit Suisse Raises Lloyds Target Price To 68p
30th Jun 2010 10:10
0910 GMT [Dow Jones] Lloyds Banking Group's (LYG) target price raised to 68p from 60p by Credit Suisse on higher medium-term earnings forecast. "We remain concerned about the structural funding issues at Lloyds, but regulatory pressures appear to be easing and the additional cost of raising substant
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
30th Jun 2010 10:10
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0910 GMT [Dow Jones] Lloyds Banking Group's (LYG) target price raised to 68p from 60p by Credit Suisse on higher medium-te
Read moreADR Report: Shares Fall On Concerns Over Europe, China
29th Jun 2010 21:53
By Adam Cancryn Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--International companies trading in New York dropped sharply Tuesday, driven by worries over European banks and reports of a slowdown in growth worldwide. The Bank of New York index of ADRs closed down 3.33% to 113.72. Europ
Read moreLloyds Taps US Retail Market For First Time In $300M Bond Sale
29th Jun 2010 17:13
By Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Lloyds Banking Group PLC (LYG) is seeking to raise $300 million in senior notes from U.S. retail investors, in a move that highlights the U.K. bank's efforts to diversify funding. According to a term sheet seen by Dow Jones
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