News: Lloyds Banking Group PLC (LYG.N)
7 Mar 2014
Fri, Mar 7 2014
* Bank offers to cash to retail investors for their bonds
LONDON, March 6 - Banks are failing to rein in excessive payouts for staff below the boardroom level despite a public backlash against a bonus culture blamed for contributing to the financial crisis, say leading investors.
LONDON, March 6 (IFR) - Lloyds Banking Group is offering bondholders who helped rescue the bank five years ago the chance to swap into new debt that meets capital rules, and is giving thousands of retail investors the chance to cash in their holdings.
March 6 - (The following statement was released by the rating agency)
March 6 - Lloyds Banking Group PLC : * ECN exchange offer US * Have commenced offer to exchange fixed rate reset additional tier 1 securities up to a total of $1,675,000,000 * Source text for Eikon: * For more news, please click here
LONDON, March 6 - Lloyds Banking Group said it is offering investors of bonds that helped rescue the bank in the financial crisis the chance to swap them for up to 5 billion pounds ($8.4 billion) of debt instruments that meet new capital rules.
LONDON, March 6 (IFR) - Lloyds Banking Group launched an exchange of existing capital securities into new, much riskier bonds which meet new tough regulations on Thursday as it seeks to strengthen its capital base while trying to keep investors on side.
* Barclays says 57 pct of its 1 mln stg club work in U.S.
* Lloyds joins Standard Life, RBS in warning on 'yes' vote
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