Lloyds TSB Bank plc (LLOY.L) on Tuesday launched a $3 billion note sale with the backing of the UK government's guarantee program, IFR reported.
The bank is planning to sell $500 million in 2-year fixed-rate notes, priced at a yield spread of 80 basis points over comparable Treasuries, said IFR, a Thomson Reuters service.
It is planning to sell $2.5 billion of 3-year fixed-rate notes at 100 basis points over Treasuries.
Citigroup, Banc of America Securities, Goldman Sachs and Lloyds are lead managers on the deal.
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