Lloyds Banking (LYG) has released an update.

Lloyds Banking Group PLC has announced the issuance of $1 billion in Fixed Rate Reset Additional Tier 1 Perpetual Subordinated Contingent Convertible Securities, under an Eighth Supplemental Indenture dated October 3, 2024. This move, in conjunction with the original Capital Securities Indenture from March 6, 2014, specifies the terms of issuance for these securities without requiring the consent of existing holders. The securities, issued as Global Notes, contribute to the company’s capital structure and are subject to terms that govern their convertibility and subordination.

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