Lloyds Said to Plan $8.7 Billion Sale of U.S. Mortgage Bonds
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Lloyds Banking Group Plc plans to auction about $8.7 billion of U.S. mortgage securities without government backing that were issued before the credit crisis, according to a person with knowledge of the offering.
The home-loan bonds are being sold next week by Britain’s biggest mortgage lender, said the person, who asked not to be identified because the transaction isn’t public. Lloyds acquired a portfolio of mortgage debt as part of its takeover of HBOS Plc in 2009.