Lloyds first to start paying off state aid

Jones, Lee
June 2009
Money Marketing;6/11/2009, p14
The article reports on the plan of Lloyds Banking Group PLC to repay the £4 billion stake it borrowed from Great Britain's Treasury. It reveals that the decision was made after the bank was able to sell £3.6 billion of stocks to its shareholders. The bank stresses that income generate from the sale will be used to repurchase its 3,475,284 shares sold to the department, thereby reducing its debt to £2.3 billion.


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