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Pin to quick picksLloyds Share News (LLOY)

Share Price Information for Lloyds (LLOY)

London Stock Exchange
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Share Price: 56.20
Bid: 56.26
Ask: 56.30
Change: 0.68 (1.22%)
Spread: 0.04 (0.071%)
Open: 56.00
High: 56.30
Low: 55.68
Prev. Close: 55.52
LLOY Live PriceLast checked at -

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UK's Great Rolling Stock Company Plans Two-Part Sterling Bond

Tue, 13th Jul 2010 09:49

LONDON (Dow Jones)--The Great Rolling Stock Company Ltd. plans to sell a two-part sterling bond issue via lead managers Lloyds Banking Group PLC, Goldman Sachs Group Inc. and the Royal Bank of Scotland Group PLC, one of the banks said Tuesday. The deal will comprise a 10-year sterling bond with a bullet repayment, set to price in the area of 300 basis points over gilts, and an amortizing bond with a legal final maturity of 2035 and a weighted average life of 14 years, which is set to price in the region of 315 basis points over gilts. The bonds, which will be secured against assets of the Angel Financing Group, will also be guaranteed by Willow Holdco 2 Ltd., Willow Bidco Ltd., Willow Rolling Stock UK Ltd., Angel Trains Group Ltd., Angel Trains Ltd., Train Finance 1 Ltd., Angel Locomotive Leasing Ltd., Angel Finance Holding Ltd., West Coast Train Finance Ltd. and Angel Leasing Company Ltd. The proceeds from the transaction will be used for the refinancing of existing bank debt within the broader Angel Financing Group. The deal is rated BBB by Standard and Poor's Corp. -By Michael Wilson, Dow Jones Newswires; 44 20 7842 9349, michael.wilson@dowjones.com (END) Dow Jones Newswires July 13, 2010 04:49 ET (08:49 GMT)
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