Lloyds Banking to Redeem £500 Million Securities

Lloyds Banking (LYG) has released an update.

Lloyds Banking Group has announced it will redeem its £500 million 5.125% Fixed Rate Reset Additional Tier 1 Perpetual Subordinated Contingent Convertible Securities on December 27, 2024. The redemption will be at the full principal amount plus any accrued interest, leading to the cancellation of the notes’ listing on the Irish Stock Exchange. This move reflects Lloyds’ strategic financial management, potentially impacting investor interest in its securities.

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