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Lloyds bond offer sees 65 per cent take-up

Lloyds Banking Group has seen 65 per cent take-up of its bond offer aimed at swapping £7.5bn of bonds for higher quality debt to improve its balance sheet.

Lloyds revealed the take-up rate by investors for the notes on offer was 65 per cent before the initial deadline yesterday.

There will be a further opportunity for investors to take up the offer at a less attractive price by April 7.

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