U.K. bank Lloyds priced its first covered bond since 2012 at the tight end of guidance.

Standard & Poor’s reported that the 3-year, £1 billion bond priced at 30 basis points over the three month Libor. The deal was talked in the low to mid-30bp range over three-month Libor.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.