Lloyds Banking Group (LYG) has released an update.
Lloyds Banking Group plc has announced the redemption of its $1.675 billion 7.5% Fixed Rate Reset Additional Tier 1 Perpetual Subordinated Contingent Convertible Securities, set for June 27, 2024. The securities will be redeemed at 100% of their principal amount along with accrued interest, leading to the cancellation of their listing on the Irish Stock Exchange. This redemption is expected to result in a £0.3 billion loss to CET1 capital due to FX rate changes, but will not affect the company’s Full Year 2024 capital generation guidance.
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