Lloyds TSB Bank to Price 8-Year Covered Bond At Swaps +1.45 Area
16th Jun 2010 08:50
LONDON (Dow Jones)--The U.K.'s Lloyds TSB Bank has set price guidance on its eight year, euro-denominated, U.K.-regulated covered bond in the area of 145 basis points over mid-swaps, one of the lead managers on the deal said Wednesday. BNP Paribas SA, HSBC Holdings Plc, Lloyds and Unicredit SpA
Read morePRESS RELEASE: S&P Corrects Rtg On FRN Issued By RBS Group To 'A'
15th Jun 2010 12:17
The following is a press release from Standard & Poor's: LONDON (Standard & Poor's) June 15, 2010--Standard & Poor's Ratings Services today corrected its rating on The Royal Bank of Scotland Group PLC's (RBSG; A/Stable/A-1) $500 million series 2978 senior unsecured floating rate notes due June 20,
Read moreFOCUS: UK Banks Tap Covered Bonds, But RMBS Buyers Still Missed
15th Jun 2010 10:19
(This was originally published Monday.) By Mark Brown Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.K. lenders are increasingly turning to covered bonds to finance their lending activities, but some market participants caution that the instruments cannot fill the gap left by the collapse
Read moreLloyds TSB Plans Euro Covered Bond Issue
15th Jun 2010 08:57
LONDON (Dow Jones)--U.K. bank Lloyds TSB Bank PLC (LYG) plans to issue a euro-denominated covered bond issue via lead managers BNP Paribas, HSBC Holdings PLC, Lloyds Bank PLC and UniCredit SpA, one of the banks said Tuesday. The deal is expected to be rated triple-A by Moody's Investor Services
Read moreMARKET TALK: All Lloyds Exchange Subscribers Should Get Swapped
15th Jun 2010 08:34
0734 GMT [Dow Jones] All subscribers to Lloyds' recent offer to exchange four of its existing dollar-denominated upper-tier 2 bonds into common shares, should have their bonds fully exchanged, BNP Paribas analysts say. According to the take-up on the offer, 570.8 million new shares would need to be
Read moreFOCUS: UK Banks Tap Covered Bonds, But RMBS Buyers Still Missed
14th Jun 2010 17:18
By Mark Brown Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.K. lenders are increasingly turning to covered bonds to finance their lending activities, but some market participants caution that the instruments cannot fill the gap left by the collapse of the market for securities backed by resid
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
14th Jun 2010 07:31
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0631 GMT [Dow Jones] Morgan Stanley downgrades Lloyds Banking Group (LLOY.LN) to underweight from equalweight, and cuts its t
Read moreMARKET TALK: M Stanley Cuts Lloyds Banking To Underweight
14th Jun 2010 07:31
0631 GMT [Dow Jones] Morgan Stanley downgrades Lloyds Banking Group (LLOY.LN) to underweight from equalweight, and cuts its target price to 50p from 65p. Says Lloyds faces the biggest risk among UK banks of missing consensus beyond FY'10, given pressure on net interest margin, tepid GDP growth and i
Read moreUK Business Secretary In Bid To Split Banks - Report
13th Jun 2010 13:29
LONDON (Dow Jones)--U.K. Business Secretary Vince Cable is keen on separating retail from investment banking despite assurances from the Treasury that the prospect of such a split hasn't been concluded yet, the Sunday Telegraph reported. "The coalition agreement is quite explicit ... The purpose
Read moreLloyds Prefers Selling 600 Branches, Not List A New Bank
13th Jun 2010 13:25
By Vladimir Guevarra Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Lloyds Banking Group PLC (LYG) prefers to sell some 600 branches as part of a divestment plan agreed with the European Commission, and not float a new bank on the stock exchange, a bank spokeswoman said Sunday. "The group h
Read morePRESS RELEASE: Moody's: Uk Prime Rmbs Performance Stable In April 2010
11th Jun 2010 10:54
The following is a press release from Moody's Investors Service: UK Prime RMBS Indices -- April 2010 London, 11 June 2010 -- The performance of the UK prime residential mortgage-backed securities (RMBS) market continued its stable trend lines during April 2010, according to the latest indices pu
Read more4th UPDATE: UK To Probe Investment Banks' Equity-Raising Fees
10th Jun 2010 15:50
(Adds comment from the Association for Financial Markets in Europe.) By Vladimir Guevarra and Digby Larner Of DOW JONES NEWSWIRES LONDON (Dow Jones)--The U.K.'s Office of Fair Trading put investment banks in its sights Thursday, saying it will launch an inquiry into how much they charge
Read more3rd UPDATE: UK To Probe Investment Banks' Equity-Raising Fees
10th Jun 2010 15:34
(Adds comment from the Investment Management Association.) By Vladimir Guevarra and Digby Larner Of DOW JONES NEWSWIRES LONDON (Dow Jones)--The U.K.'s Office of Fair Trading put investment banks in its sights Thursday, saying it will launch an inquiry into how much they charge for equity
Read more2nd UPDATE: OFT Launches Inquiry Into Investment Banks
10th Jun 2010 11:46
(Adds comment from the British Bankers' Association.) By Vladimir Guevarra and Digby Larner Of DOW JONES NEWSWIRES LONDON (Dow Jones)--The U.K.'s Office of Fair Trading took a sideswipe at investment banks Thursday, saying it will launch an inquiry into how much they charge for equity un
Read moreUPDATE: OFT Launches Inquiry Into Investment Banks
10th Jun 2010 11:03
(Adds background, analyst comment.) By Vladimir Guevarra and Digby Larner Of DOW JONES NEWSWIRES LONDON (Dow Jones)--The U.K.'s Office of Fair Trading took a sideswipe at investment banks Thursday, saying it will launch an inquiry into how much they charge for equity underwriting and oth
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