Breakingviews on Twitter
Search League Tables

Thursday, 26 November 2015

Lloyds' capital wizardry could yield rich rewards

Closing the GAPS

The UK bank appears to need £25bn to exit the state s loanloss insurance scheme, but a rights issue could probably provide only half that. Swapping hybrid debt for convertibles would plug the gap, while diluting the government s stake. But such a plan won t be easy to execute.

This content is for Subscribers only

To access full content you must be a subscriber. Please use the following link to request a trial.

Sign In

(Launches in a new window)