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CREDIT SUPPLY: LLOYDS: Cover 2.6x, Tight Spread

CREDIT SUPPLY

Lloyds Banking (LLOYDS: A3/BBB+/A) final terms set size at EUR1bn and have books back down to >EUR2.6bn from EUR3.3bn at prior update. Spread is MS+95bp, so 5bp wide of our fair value. Another tight issue but cover <3x.

  • “FINAL TERMS: Lloyds EU1b 6.25NC5.25 Green MS+95” - BBG

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