Lloyds Banking Group Announces Redemption of Subordinated Notes
Why we think this is neutral
The RNS announcement indicates that Lloyds Banking Group plc will be redeeming its EUR 309,088,000 Dated Subordinated Fixed-to-Floating Rate Notes due 2030 on 18 March 2025. This appears to be a routine regulatory announcement without any material financial impact to the business. No concerning insights or red flags were identified in the RNS.
Key Points
- Lloyds Banking Group plc to redeem EUR 309,088,000 Dated Subordinated Fixed-to-Floating Rate Notes due 2030 on 18 March 2025
- Redemption at Optional Redemption Amount plus accrued interest
- Routine regulatory announcement without significant financial impact
Summary
The major bank is redeeming a set of subordinated notes, a routine regulatory announcement without significant financial impact.
Lloyds Banking Group plc has announced that it will be redeeming all of its EUR 309,088,000 Dated Subordinated Fixed-to-Floating Rate Notes due 2030 on 18 March 2025 at their Optional Redemption Amount together with accrued interest. This appears to be a routine regulatory announcement and does not indicate any material financial impact to the business.
Key Dates
18 March 2025
General
Redemption of EUR 309,088,000 Dated Subordinated Fixed-to-Floating Rate Notes
Impact Score: 2
GENERAL UPDATE