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CORRECTED - BRIEF-Lloyds offers senior bonds for Clerical Medical notes

Tue Jun 30, 2009 7:49am EDT

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(Corrects third bullet point to read "...Clerical Medical Tier 2..." instead of "...Clerical Medical Tier 1...")

LONDON, June 30 (Reuters) - Lloyds Banking Group PLC (LLOY.L): * Invitation to exchange Clerical Medical euro and sterling subordinated securities for senior unsecured notes * Purpose is to create additional core Tier 1 capital in the capital structure of Lloyds * Offers senior Lloyds notes maturing 2014 in exchange for life insurance unit Clerical Medical Tier 2 bonds * Offers between 48 and 73 percent of face value for Clerical Medical perpetual notes in debt swap



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