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Pin to quick picksLloyds Share News (LLOY)

Share Price Information for Lloyds (LLOY)

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Share Price: 52.18
Bid: 52.26
Ask: 52.30
Change: 0.12 (0.23%)
Spread: 0.04 (0.077%)
Open: 52.38
High: 52.90
Low: 52.18
Prev. Close: 52.06
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Bridgepoint's Care UK Eyes Bond Market To Refinance LBO Debt

Tue, 06th Jul 2010 14:50

By Carol Dean and Michael Wilson Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Care U.K. is considering taking the high-yield bond route to refinance part of the GBP210 million of senior debt that backed Bridgepoint's buyout of the healthcare company in March this year, said people familiar with the situation Tuesday. The potential bond offering is seen as a test of high-yield investors' appetite to buy into a leveraged buyout situation shortly after the company has been acquired by private equity. If the deal goes ahead and is well received, it opens up the possibility of other leveraged buyout companies seeking refinancing in the bond market, the people said. Nevertheless, Care U.K. has yet to make a decision on whether a substantial part of the senior debt will be refinanced in the bond market, one of the people said. However, another person said high-yield investors have recently been approached about a possible bond to gauge their appetite for such an offering. "If the feedback isn't what they want to hear, the debt will be syndicated [by the lending banks]", this person added. "But the company is in an attractive sector [healthcare] and the deal may well find favour." The bond size is likely to be around GBP150 million to facilitate liquidity in the secondary market, one of the people said. The bond will most likely refinance the term loan portion, A and B tranches, of the financing. The remaining debt comprises working capital facilities, this person added. The senior debt is being provided by a group of banks consisting of Bank of Ireland (BIR.DB), BNP Paribas SA (BNPQY), HSBC Holdings (HBC), ING groep NV(ING), Lloyds Banking Group (LLOY.LN) and Societe Generale (GLE.FR). A subset of these banks will be mandated to arrange the bond should the company choose to take that route, this person said. Bridgepoint acquired the business earlier this year for around GBP420 million. Care UK is a provider of health and social care services, working with local authorities and the U.K.'s National Health System to provide a range of outsourced services, according to Bridgepoint's website. Care UK wasn't immediately available for comment on the matter. -By Carol Dean and Michael Wilson, Dow Jones Newswires; 44 20 7842 9306; carol.dean@dowjones.com (END) Dow Jones Newswires July 06, 2010 09:50 ET (13:50 GMT)
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3 Aug 2023 12:17

LONDON MARKET MIDDAY: Pound under pressure after BoE hike

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31 Jul 2023 21:47

IN BRIEF: Lloyds corporate affairs chief sells GBP150,350 shares

Lloyds Banking Group PLC - Edinburgh, Scotland-based bank - Chief Corporate Affairs Officer Andrew Walton sells 333,333 shares at 45.105 pence each on Thursday last week. Total aggregate value is GBP150,350.

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31 Jul 2023 11:00

Britain's banks told to justify low savings rates by end of August

LONDON, July 31 (Reuters) - Britain's banks and building societies have until the end of August to justify to regulators why some of their savings rates are low or face sanctions, the markets watchdog said on Monday, as Bank of England rates look set to rise to their highest since 2008.

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28 Jul 2023 14:03

UK's Telegraph and Spectator appoint Goldman Sachs to run sale

LONDON, July 28 (Reuters) - The boards of the Telegraph newspaper and The Spectator magazine, led by recently appointed chair Mike McTighe, have appointed investment bank Goldman Sachs and law firm Linklaters to advise on their sale, they said in a statement on Friday.

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27 Jul 2023 15:44

UK dividends calendar - next 7 days

Friday 28 July 
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Vertu Motors PLCdividend payment date
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27 Jul 2023 09:38

LONDON BROKER RATINGS: Shore Capital cuts AO World to 'sell'

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

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27 Jul 2023 06:00

Banks tread tricky tightrope with politically exposed clients

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26 Jul 2023 16:54

LONDON MARKET CLOSE: Europe falls amid pre-Fed decision caution

(Alliance News) - Blue-chip stock prices in Europe closed lower on Wednesday, as risk aversion set in ahead of a Federal Reserve interest rate decision later.

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26 Jul 2023 13:53

Banks tread tricky tightrope with politically exposed clients

LONDON, July 26 (Reuters) - The war of words between NatWest and erstwhile customer Nigel Farage has underscored the challenges global banks face in handling clients who could be defined as a politically exposed person, or PEP.

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26 Jul 2023 12:21

Shares fall as Fed rate rise looms

Euro STOXX down 0.9%

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26 Jul 2023 12:05

European banks flag bad loan risks as global economy falters

LONDON/MILAN/MADRID, July 26 (Reuters) - Europe's major banks, including Deutsche Bank and Lloyds Banking Group, on Wednesday pointed to the rising risk of bad loans as the global economy struggles with slow growth and high inflation.

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26 Jul 2023 10:04

TOP NEWS: Lloyds raises guidance following "robust" half year earnings

(Alliance News) - Lloyds Banking Group PLC said it was "well positioned to deliver" on its ambitions and raised its full-year guidance off the back of higher income and profit in the last six months.

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26 Jul 2023 09:25

NatWest's Alison Rose, trail-blazing finance boss, bows out after Farage breach

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26 Jul 2023 07:52

LONDON BRIEFING: Lloyds raises guidance; Rio Tinto profit down

(Alliance News) - Stocks in London are called to open lower on Wednesday, following a slew of earnings from UK companies, as well as an interest rate decision from the US Federal Reserve.

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26 Jul 2023 07:03

Lloyds Bank interim profits surge 23%

(Sharecast News) - Lloyds Bank on Wednesday reported another surge in earnings, although slightly below expectations, and set aside more cash for bad loans amid pressure to provide hard pressed savers better returns.

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