Lloyds Said to Sell Benchmark 15-Year Covered Bonds in Pounds

Lloyds Banking Group Plc (LLOY) plans to sell benchmark-size 15-year covered bonds in pounds, according to a banker involved in the transaction.

The securities may be priced to yield about 195 basis points more than U.K. government debt, the banker said. Goldman Sachs Group Inc. and Banco Santander SA (SAN) will manage the sale with Lloyds.

To contact the reporter on this story: Katie Linsell in London at klinsell@bloomberg.net

To contact the editor responsible for this story: Andrew Reierson at areierson1@bloomberg.net

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