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Lloyds won't redeem 750m euro CoCo bond amid COVID-19 crisis

People walk past a branch of Lloyds Bank on Oxford Street in London
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LONDON (Reuters) - Lloyds Banking Group told investors on Friday it would not redeem a 750 million euro "CoCo" bond, a move that would have reduced its capital base just as banks face a spike in bad loans during the COVID-19 crisis.Britain's biggest domestic lender said it would not exercise its call option on the Additional Tier 1 bond - a type of contingent convertible instrument and the..
Date Published: May 22, 2020
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