Lloyds Banking Group has repaid £2.3bn to the UK Treasury after strong support for its open offer and placing aimed at repaying the government’s £4bn of preference shares. Lloyds is believed to be the first major western bank to repay state equity in the round of bailouts that began last year. The bank received acceptances in respect of 9bn shares – or 87% of the shares issued; the rump of 1.36bn shares was placed in the market with institutions at about 60p.

This entry was posted by Gwen Robinson on Tuesday, June 9th, 2009 at 4:27 and is filed under Capital markets. Tagged with Lloyds Banking Group. Edit this entry.