LLoyds to push ahead with repurchase of some ECNs
Updated : 18:55
Lloyds announced on Friday it would move ahead with the redemption of 3.3bn pounds of its controversial 'high-yield' enhanced-capital notes.
Of that amount 657.4bn pounds would be repurchased on 9 February.
The legality of the move was still pending a final decision in the UK´s Supreme Court.
The two ECN issues subject to the tender offered an eye-watering between 640 and 690 basis points over three-month USD Libor.