Bloomberg News

Lloyds Said to Plan Sale of U.K. Credit Card-Backed Bonds

March 13, 2012

Lloyds Banking Group Plc (LLOY) plans to sell bonds backed by U.K. credit cards, according to a banker involved in the transaction.

A roadshow for the securities to be issued through Penarth Series 2012-1 will start March 19, the banker said. Lloyds Bank is sole arranger of the transaction, while Bank of America Corp. and Morgan Stanley are lead managers with Lloyds.

To contact the reporter on this story: Esteban Duarte in Madrid at

To contact the editor responsible for this story: Andrew Reierson at

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